Corient Private Wealth LLC Makes New Investment in BitMine Immersion Technologies, Inc. $BMNR

Corient Private Wealth LLC purchased a new position in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 42,429 shares of the company’s stock, valued at approximately $1,152,000.

A number of other hedge funds have also made changes to their positions in BMNR. Strategic Advocates LLC bought a new position in shares of BitMine Immersion Technologies in the 3rd quarter valued at approximately $27,000. Financial Life Planners bought a new stake in BitMine Immersion Technologies during the third quarter worth approximately $37,000. Larson Financial Group LLC bought a new stake in BitMine Immersion Technologies during the third quarter worth approximately $37,000. Northwestern Mutual Wealth Management Co. bought a new stake in BitMine Immersion Technologies during the third quarter worth approximately $38,000. Finally, Ankerstar Wealth LLC acquired a new position in BitMine Immersion Technologies during the fourth quarter valued at approximately $27,000.

BitMine Immersion Technologies Trading Up 6.5%

Shares of NYSE BMNR opened at $14.18 on Thursday. The firm has a market capitalization of $8.07 billion and a price-to-earnings ratio of -109.04. BitMine Immersion Technologies, Inc. has a one year low of $12.80 and a one year high of $161.00. The business has a fifty day simple moving average of $18.52 and a 200 day simple moving average of $22.23.

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. BitMine Immersion Technologies had a negative net margin of 51,892.77% and a positive return on equity of 5.59%. The business had revenue of $11.04 million during the quarter. On average, research analysts anticipate that BitMine Immersion Technologies, Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on BMNR shares. Weiss Ratings assumed coverage on shares of BitMine Immersion Technologies in a research report on Friday, April 17th. They issued a “sell (d-)” rating on the stock. Cantor Fitzgerald lowered their target price on shares of BitMine Immersion Technologies from $39.00 to $30.30 and set an “overweight” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.15.

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.