31,331 Shares in BitMine Immersion Technologies, Inc. $BMNR Bought by Turner Financial Group Inc.

Turner Financial Group Inc. purchased a new position in BitMine Immersion Technologies, Inc. (NYSE:BMNR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,331 shares of the company’s stock, valued at approximately $417,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ankerstar Wealth LLC bought a new position in shares of BitMine Immersion Technologies during the 4th quarter worth about $27,000. Larson Financial Group LLC bought a new stake in BitMine Immersion Technologies in the 3rd quarter valued at about $37,000. Banque Cantonale Vaudoise raised its stake in BitMine Immersion Technologies by 72.3% during the 1st quarter. Banque Cantonale Vaudoise now owns 1,859 shares of the company’s stock worth $37,000 after buying an additional 780 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in BitMine Immersion Technologies in the third quarter worth approximately $38,000. Finally, Legacy Wealth Managment LLC ID grew its stake in BitMine Immersion Technologies by 153.8% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 1,396 shares of the company’s stock valued at $38,000 after acquiring an additional 846 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BMNR. B Riley reaffirmed a “buy” rating on shares of BitMine Immersion Technologies in a research report on Thursday. Cantor Fitzgerald decreased their price target on shares of BitMine Immersion Technologies from $39.00 to $30.30 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Weiss Ratings restated a “sell (d-)” rating on shares of BitMine Immersion Technologies in a report on Wednesday, July 15th. Finally, B. Riley Financial raised their price objective on shares of BitMine Immersion Technologies from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, BitMine Immersion Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $30.15.

BitMine Immersion Technologies Trading Down 5.7%

Shares of BitMine Immersion Technologies stock opened at $24.93 on Friday. The business’s fifty day simple moving average is $18.49 and its 200 day simple moving average is $19.30. BitMine Immersion Technologies, Inc. has a 12 month low of $12.80 and a 12 month high of $65.60. The firm has a market capitalization of $15.04 billion, a P/E ratio of 498.60 and a beta of 1.61.

BitMine Immersion Technologies (NYSE:BMNR) last announced its earnings results on Tuesday, July 14th. The company reported ($128.25) earnings per share (EPS) for the quarter. The business had revenue of $46.53 million for the quarter. BitMine Immersion Technologies had a negative net margin of 14,306.56% and a positive return on equity of 3.35%. Analysts predict that BitMine Immersion Technologies, Inc. will post 0.06 EPS for the current fiscal 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.