BitMine Immersion Technologies (NYSEAMERICAN:BMNR) Shares Gap Down – What’s Next?

BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) gapped down before the market opened on Thursday . The stock had previously closed at $40.40, but opened at $38.80. BitMine Immersion Technologies shares last traded at $38.6660, with a volume of 12,746,559 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Zacks Research upgraded shares of BitMine Immersion Technologies to a “hold” rating in a report on Friday, October 17th. B. Riley lowered their price objective on BitMine Immersion Technologies from $90.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $47.00.

BitMine Immersion Technologies Price Performance

The business has a fifty day moving average of $42.94. The stock has a market cap of $14.82 billion and a P/E ratio of -87.70.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) last posted its earnings results on Friday, November 21st. The company reported $15.90 EPS for the quarter. The business had revenue of $1.32 million during the quarter. BitMine Immersion Technologies had a return on equity of 16.02% and a net margin of 5,719.06%.

BitMine Immersion Technologies Announces Dividend

The firm also recently announced an annual dividend, which will be paid on Monday, December 29th. Shareholders of record on Monday, December 8th will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a yield of 3.0%.

Institutional Trading of BitMine Immersion Technologies

A number of large investors have recently made changes to their positions in BMNR. ARK Investment Management LLC bought a new position in shares of BitMine Immersion Technologies during the 3rd quarter valued at $387,907,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of BitMine Immersion Technologies during the 3rd quarter valued at about $196,536,000. Amova Asset Management Americas Inc. bought a new position in shares of BitMine Immersion Technologies in the third quarter worth approximately $196,503,000. Vanguard Group Inc. purchased a new stake in BitMine Immersion Technologies in the 3rd quarter worth $148,612,000. Finally, Pantera Capital Partners LP purchased a new stake in shares of BitMine Immersion Technologies during the third quarter worth about $122,036,000.

About BitMine Immersion Technologies

BitMine Immersion Technologies Inc focused on bitcoin mining using immersion technology. BitMine Immersion Technologies Inc is based in ATLANTA, GA.