BitMine Immersion Technologies, Inc. $BMNR Stake Increased by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 65.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,384,840 shares of the company’s stock after purchasing an additional 1,336,706 shares during the period. Geode Capital Management LLC’s holdings in BitMine Immersion Technologies were worth $91,940,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BMNR. Strategic Advocates LLC purchased a new stake in shares of BitMine Immersion Technologies during the third quarter worth $27,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of BitMine Immersion Technologies during the fourth quarter worth $27,000. Lodestone Wealth Management LLC purchased a new stake in shares of BitMine Immersion Technologies during the fourth quarter worth $30,000. Wellington Shields Capital Management LLC purchased a new stake in shares of BitMine Immersion Technologies during the third quarter worth $31,000. Finally, Trust Co. of Vermont raised its holdings in shares of BitMine Immersion Technologies by 424.4% during the fourth quarter. Trust Co. of Vermont now owns 1,180 shares of the company’s stock worth $32,000 after acquiring an additional 955 shares in the last quarter.

Analyst Upgrades and Downgrades

BMNR has been the subject of several recent research reports. 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. Weiss Ratings initiated coverage on BitMine Immersion Technologies in a report on Friday, April 17th. They set a “sell (d-)” rating on the stock. Finally, Cantor Fitzgerald upgraded BitMine Immersion Technologies to a “strong-buy” rating in a report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BitMine Immersion Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

BitMine Immersion Technologies Stock Down 10.9%

BMNR stock opened at $15.94 on Friday. BitMine Immersion Technologies, Inc. has a twelve month low of $3.92 and a twelve month high of $161.00. The company has a market cap of $9.08 billion and a PE ratio of -122.58. The business’s 50-day simple moving average is $20.46 and its 200 day simple moving average is $24.48.

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