Mozayyx Management LLC Invests $90.50 Million in BitMine Immersion Technologies, Inc. $BMNR

Mozayyx Management LLC bought a new position in BitMine Immersion Technologies, Inc. (NYSE:BMNR) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 3,333,333 shares of the company’s stock, valued at approximately $90,500,000. BitMine Immersion Technologies makes up 71.0% of Mozayyx Management LLC’s investment portfolio, making the stock its largest holding. Mozayyx Management LLC owned approximately 0.73% of BitMine Immersion Technologies at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Strategic Advocates LLC bought a new stake in BitMine Immersion Technologies during the 3rd quarter valued at $27,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of BitMine Immersion Technologies in the fourth quarter valued at $27,000. Ankerstar Wealth LLC acquired a new position in shares of BitMine Immersion Technologies during the fourth quarter valued at about $27,000. Lodestone Wealth Management LLC acquired a new position in shares of BitMine Immersion Technologies during the fourth quarter valued at about $30,000. Finally, Trust Co. of Vermont grew 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 valued at $32,000 after buying an additional 955 shares during the last quarter.

BitMine Immersion Technologies Trading Up 0.2%

NYSE BMNR opened at $16.17 on Friday. The business has a fifty day simple moving average of $19.77 and a 200 day simple moving average of $23.51. BitMine Immersion Technologies, Inc. has a 12 month low of $3.92 and a 12 month high of $161.00. The firm has a market capitalization of $9.21 billion and a P/E ratio of -124.37.

BitMine Immersion Technologies (NYSE:BMNR) last posted its earnings results on Tuesday, April 14th. The company reported ($0.08) earnings per share (EPS) for the quarter. The firm had revenue of $11.04 million during the quarter. BitMine Immersion Technologies had a positive return on equity of 5.59% and a negative net margin of 51,892.77%. As a group, sell-side analysts predict that BitMine Immersion Technologies, Inc. will post 0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BMNR has been the topic of a number of analyst reports. Weiss Ratings initiated coverage on shares of BitMine Immersion Technologies in a report on Friday, April 17th. They issued a “sell (d-)” rating on the stock. Cantor Fitzgerald upgraded BitMine Immersion Technologies to a “strong-buy” rating in a research note on Thursday, April 9th. Finally, B. Riley Financial decreased 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. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.50.

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.