Bank of New York Mellon Corp Raises Stock Holdings in BitMine Immersion Technologies, Inc. $BMNR

Bank of New York Mellon Corp boosted its position in BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 36.0% in the first quarter, Holdings Channel.com reports. The firm owned 346,451 shares of the company’s stock after buying an additional 91,701 shares during the quarter. Bank of New York Mellon Corp’s holdings in BitMine Immersion Technologies were worth $6,853,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Checchi Capital Advisers LLC lifted its position in BitMine Immersion Technologies by 66.1% during the 1st quarter. Checchi Capital Advisers LLC now owns 12,570 shares of the company’s stock valued at $249,000 after acquiring an additional 5,000 shares during the period. AMG National Trust Bank bought a new position in shares of BitMine Immersion Technologies during the first quarter valued at approximately $882,000. Global Assets Advisory LLC bought a new position in shares of BitMine Immersion Technologies during the first quarter valued at approximately $79,000. International Assets Investment Management LLC bought a new position in shares of BitMine Immersion Technologies during the first quarter valued at approximately $230,000. Finally, Diversify Wealth Management LLC purchased a new position in shares of BitMine Immersion Technologies during the first quarter valued at approximately $1,071,000.

BitMine Immersion Technologies Price Performance

BMNR stock opened at $17.45 on Tuesday. The stock has a market capitalization of $10.53 billion, a P/E ratio of 349.10 and a beta of 1.28. BitMine Immersion Technologies, Inc. has a 1-year low of $12.80 and a 1-year high of $71.74. The business has a fifty day moving average price of $16.21 and a 200-day moving average price of $19.94.

BitMine Immersion Technologies (NYSE:BMNR) last released its quarterly earnings data 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 3.35%. The business had revenue of $46.53 million for the quarter. As a group, analysts anticipate that BitMine Immersion Technologies, Inc. will post 0.06 earnings per share for the current year.

Analyst Ratings Changes

BMNR has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of BitMine Immersion Technologies in a research report on Wednesday, July 15th. B. Riley Financial reduced their price objective on BitMine Immersion Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Finally, Cantor Fitzgerald lowered their price objective on 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. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $27.65.

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.