DNB Asset Management AS Has $4.08 Million Stake in BitMine Immersion Technologies, Inc. $BMNR

DNB Asset Management AS boosted its holdings in BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 599.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 150,095 shares of the company’s stock after acquiring an additional 128,624 shares during the period. DNB Asset Management AS’s holdings in BitMine Immersion Technologies were worth $4,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. ARK Investment Management LLC acquired a new stake in BitMine Immersion Technologies in the 3rd quarter worth about $387,907,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of BitMine Immersion Technologies by 29.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,916,195 shares of the company’s stock valued at $133,475,000 after buying an additional 1,131,556 shares in the last quarter. Vanguard Group Inc. raised its position in shares of BitMine Immersion Technologies by 65.7% in the 4th quarter. Vanguard Group Inc. now owns 4,742,559 shares of the company’s stock valued at $128,760,000 after buying an additional 1,880,793 shares in the last quarter. Amova Asset Management Americas Inc. acquired a new position in shares of BitMine Immersion Technologies in the 3rd quarter valued at approximately $196,503,000. Finally, Pantera Capital Partners LP acquired a new position in shares of BitMine Immersion Technologies in the 3rd quarter valued at approximately $122,036,000.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Cantor Fitzgerald upgraded shares of BitMine Immersion Technologies to a “strong-buy” rating in a research report on Thursday, April 9th. Weiss Ratings assumed coverage on shares of BitMine Immersion Technologies in a research report on Friday, April 17th. They issued a “sell (d-)” rating for the company. Finally, B. Riley Financial dropped their target price on shares of BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.50.

BitMine Immersion Technologies Trading Down 0.3%

Shares of BitMine Immersion Technologies stock opened at $18.67 on Wednesday. The firm has a market capitalization of $10.63 billion and a PE ratio of -143.58. The firm’s 50 day moving average is $21.18 and its 200 day moving average is $26.37. BitMine Immersion Technologies, Inc. has a 1 year low of $3.92 and a 1 year high of $161.00.

BitMine Immersion Technologies (NYSE:BMNR) last announced its quarterly earnings results on Tuesday, April 14th. The company reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $11.04 million for the quarter. BitMine Immersion Technologies had a negative net margin of 51,892.77% and a positive return on equity of 5.59%. As a group, research analysts anticipate that BitMine Immersion Technologies, Inc. will post 0.29 earnings per share for the current year.

BitMine Immersion Technologies 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.