20,580 Shares in BitMine Immersion Technologies, Inc. $BMNR Acquired by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC acquired a new stake in shares of BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) during the third quarter, Holdings Channel.com reports. The fund acquired 20,580 shares of the company’s stock, valued at approximately $1,069,000.

Several other large investors have also recently added to or reduced their stakes in BMNR. CNB Bank purchased a new stake in BitMine Immersion Technologies in the 3rd quarter worth approximately $26,000. Quintet Private Bank Europe S.A. acquired a new position in shares of BitMine Immersion Technologies in the third quarter worth $30,000. HM Payson & Co. acquired a new position in shares of BitMine Immersion Technologies in the third quarter worth $35,000. American Capital Advisory LLC purchased a new stake in shares of BitMine Immersion Technologies during the third quarter worth $36,000. Finally, Private Wealth Asset Management LLC acquired a new stake in BitMine Immersion Technologies during the third quarter valued at $39,000.

BitMine Immersion Technologies Stock Performance

NYSEAMERICAN BMNR opened at $25.10 on Friday. BitMine Immersion Technologies, Inc. has a fifty-two week low of $3.20 and a fifty-two week high of $161.00. The stock’s 50-day moving average is $31.01 and its two-hundred day moving average is $41.31.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) last released its quarterly earnings results on Tuesday, January 13th. The company reported ($12.74) earnings per share (EPS) for the quarter. The company had revenue of $2.29 million for the quarter. BitMine Immersion Technologies had a positive return on equity of 7.89% and a negative net margin of 67,546.19%.

BitMine Immersion Technologies Dividend Announcement

The business also recently announced an annual dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 8th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a yield of 3.0%.

Analyst Ratings Changes

A number of brokerages have commented on BMNR. Zacks Research upgraded BitMine Immersion Technologies to a “hold” rating in a research note on Friday, October 17th. B. Riley lowered their price target on BitMine Immersion Technologies from $90.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Finally, Cantor Fitzgerald started coverage on BitMine Immersion Technologies in a report on Monday, January 5th. They issued an “overweight” rating and a $39.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, BitMine Immersion Technologies presently has an average rating of “Buy” and an average target price of $43.00.

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.