22,735 Shares in BitMine Immersion Technologies, Inc. $BMNR Purchased by Compass Financial Management LLC

Compass Financial Management LLC purchased a new position in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 22,735 shares of the company’s stock, valued at approximately $303,000.

Other large investors have also added to or reduced their stakes in the company. Pilgrim Partners Asia Pte Ltd bought a new stake in BitMine Immersion Technologies during the 4th quarter worth about $27,000. Ankerstar Wealth LLC acquired a new position in BitMine Immersion Technologies during the fourth quarter valued at approximately $27,000. Banque Cantonale Vaudoise boosted its position in BitMine Immersion Technologies by 72.3% during the first quarter. Banque Cantonale Vaudoise now owns 1,859 shares of the company’s stock valued at $37,000 after purchasing an additional 780 shares during the last quarter. Larson Financial Group LLC bought a new position in BitMine Immersion Technologies in the third quarter valued at approximately $37,000. Finally, Legacy Wealth Managment LLC ID raised its stake in shares of BitMine Immersion Technologies by 153.8% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 1,396 shares of the company’s stock worth $38,000 after purchasing an additional 846 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. B. Riley Financial dropped their price target on shares of BitMine Immersion Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Cantor Fitzgerald lowered their price objective 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, July 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BitMine Immersion Technologies in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, BitMine Immersion Technologies has an average rating of “Moderate Buy” and an average target price of $27.65.

BitMine Immersion Technologies Stock Performance

Shares of BMNR stock opened at $24.14 on Tuesday. BitMine Immersion Technologies, Inc. has a 52 week low of $12.80 and a 52 week high of $65.60. The company has a market capitalization of $14.56 billion, a price-to-earnings ratio of 482.88 and a beta of 1.28. The company has a 50-day simple moving average of $16.76 and a 200 day simple moving average of $18.99.

BitMine Immersion Technologies (NYSE:BMNR) last released its quarterly earnings results on Tuesday, July 14th. The company reported ($128.25) earnings per share for the quarter. BitMine Immersion Technologies had a negative net margin of 14,306.56% and a positive return on equity of 3.35%. The company had revenue of $46.53 million during the quarter. Sell-side analysts forecast that BitMine Immersion Technologies, Inc. will post 0.06 EPS for the current year.

About BitMine Immersion Technologies

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.