Pinnbrook Capital Management LP Buys Shares of 88,438 BitMine Immersion Technologies, Inc. $BMNR

Pinnbrook Capital Management LP purchased a new position in BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 88,438 shares of the company’s stock, valued at approximately $4,593,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Strong Tower Advisory Services purchased a new position in BitMine Immersion Technologies in the third quarter worth $14,354,000. Robeco Institutional Asset Management B.V. bought a new position in BitMine Immersion Technologies in the third quarter valued at $7,270,000. Voya Investment Management LLC purchased a new stake in BitMine Immersion Technologies during the third quarter valued at about $2,327,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in BitMine Immersion Technologies during the third quarter valued at about $196,536,000. Finally, Commonwealth Equity Services LLC bought a new stake in BitMine Immersion Technologies during the third quarter worth about $7,022,000.

BitMine Immersion Technologies Stock Down 0.0%

BMNR stock opened at $20.54 on Friday. BitMine Immersion Technologies, Inc. has a 52 week low of $3.20 and a 52 week high of $161.00. The firm’s fifty day moving average is $24.18 and its 200 day moving average is $36.21.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) last issued its earnings results on Tuesday, January 13th. The company reported ($0.05) EPS for the quarter. The business had revenue of $2.29 million during the quarter. BitMine Immersion Technologies had a positive return on equity of 7.89% and a negative net margin of 67,546.19%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BMNR. B. Riley Financial cut their price objective on BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Cantor Fitzgerald began coverage on BitMine Immersion Technologies in a report on Monday, January 5th. They set an “overweight” rating and a $39.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $34.50.

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.