AMG National Trust Bank Purchases New Holdings in BitMine Immersion Technologies, Inc. $BMNR

AMG National Trust Bank acquired a new position in BitMine Immersion Technologies, Inc. (NYSE:BMNR) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 44,600 shares of the company’s stock, valued at approximately $882,000.

Other institutional investors have also added to or reduced their stakes in the company. State of Michigan Retirement System grew its position in BitMine Immersion Technologies by 141.7% in the 4th quarter. State of Michigan Retirement System now owns 145,000 shares of the company’s stock valued at $3,937,000 after acquiring an additional 85,000 shares during the last quarter. Blue Sky Capital Consultants Group Inc. increased its stake in BitMine Immersion Technologies by 340.5% in the fourth quarter. Blue Sky Capital Consultants Group Inc. now owns 95,799 shares of the company’s stock worth $2,601,000 after purchasing an additional 74,052 shares during the period. Strong Tower Advisory Services lifted its position in shares of BitMine Immersion Technologies by 82.3% during the fourth quarter. Strong Tower Advisory Services now owns 503,896 shares of the company’s stock worth $13,681,000 after purchasing an additional 227,484 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of BitMine Immersion Technologies by 29.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,916,195 shares of the company’s stock worth $133,475,000 after purchasing an additional 1,131,556 shares during the last quarter. Finally, Aurora Investment Managers LLC. purchased a new stake in shares of BitMine Immersion Technologies during the fourth quarter valued at $3,411,000.

BitMine Immersion Technologies Trading Down 2.9%

Shares of BMNR stock opened at $15.81 on Thursday. BitMine Immersion Technologies, Inc. has a twelve month low of $12.80 and a twelve month high of $71.74. The stock has a fifty day simple moving average of $17.13 and a two-hundred day simple moving average of $21.14. The stock has a market capitalization of $9.01 billion and a price-to-earnings ratio of -121.65.

BitMine Immersion Technologies (NYSE:BMNR) last announced its quarterly earnings results on Tuesday, July 14th. The company reported ($128.25) EPS for the quarter. BitMine Immersion Technologies had a negative net margin of 14,306.56% and a positive return on equity of 3.49%. Research analysts predict that BitMine Immersion Technologies, Inc. will post 0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Cantor Fitzgerald cut their price target on shares of BitMine Immersion Technologies from $39.00 to $30.30 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Weiss Ratings began coverage on shares of BitMine Immersion Technologies in a report on Friday, April 17th. They set a “sell (d-)” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.15.

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.