BitMine Immersion Technologies (NYSEAMERICAN:BMNR) Stock Rating Upgraded by Cantor Fitzgerald

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) was upgraded by Cantor Fitzgerald to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other research firms also recently issued reports on BMNR. Zacks Research upgraded BitMine Immersion Technologies to a “hold” rating in a research note on Friday, October 17th. B. Riley reduced their target price on shares of BitMine Immersion Technologies from $90.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, BitMine Immersion Technologies has a consensus rating of “Buy” and a consensus target price of $43.00.

BitMine Immersion Technologies Stock Down 3.1%

NYSEAMERICAN:BMNR opened at $32.33 on Monday. The company has a market cap of $13.77 billion and a price-to-earnings ratio of -73.48. The firm’s fifty day moving average price is $33.92. BitMine Immersion Technologies has a 52 week low of $3.20 and a 52 week high of $161.00.

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 net margin of 5,719.06% and a return on equity of 16.02%.

Institutional Investors Weigh In On BitMine Immersion Technologies

Several large investors have recently made changes to their positions in the business. CNB Bank purchased a new position in shares of BitMine Immersion Technologies during the 3rd quarter valued at approximately $26,000. Strategic Advocates LLC bought a new stake in shares of BitMine Immersion Technologies during the third quarter valued at about $27,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of BitMine Immersion Technologies in the 3rd quarter worth approximately $30,000. Guerra Advisors Inc bought a new stake in shares of BitMine Immersion Technologies in the 3rd quarter worth $31,000. Finally, Wellington Shields Capital Management LLC acquired a new position in shares of BitMine Immersion Technologies in the 3rd quarter worth $31,000.

BitMine Immersion Technologies Company Profile

BitMine Immersion Technologies, Inc (NYSE American: BMNR) is an engineering and technology company specializing in immersion cooling solutions for digital asset mining and high-performance computing (HPC) applications. The company develops proprietary direct-to-chip systems that submerge servers in non-conductive dielectric fluids to efficiently remove heat, enabling clients to achieve higher processing density and improved energy efficiency.

BitMine offers turnkey services spanning system design, equipment supply, installation and ongoing maintenance.