BitMine Immersion Technologies, Inc. (NYSE:BMNR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

BitMine Immersion Technologies, Inc. (NYSE:BMNR) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $30.15.

Several equities analysts have recently weighed in on BMNR shares. B. Riley Financial raised their price target on shares of BitMine Immersion Technologies from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Wall Street Zen cut shares of BitMine Immersion Technologies from a “sell” rating to a “strong sell” rating in a research note on Tuesday. B Riley reiterated a “buy” rating on shares of BitMine Immersion Technologies in a report on Thursday. Cantor Fitzgerald decreased their target price 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 reissued a “sell (d-)” rating on shares of BitMine Immersion Technologies in a research note on Wednesday, July 15th.

Hedge Funds Weigh In On BitMine Immersion Technologies

A number of institutional investors have recently added to or reduced their stakes in BMNR. Larson Financial Group LLC purchased a new stake in BitMine Immersion Technologies in the 3rd quarter valued at $37,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of BitMine Immersion Technologies during the 3rd quarter worth $38,000. Ankerstar Wealth LLC purchased a new position in shares of BitMine Immersion Technologies during the 4th quarter worth $27,000. Banque Cantonale Vaudoise acquired a new position in shares of BitMine Immersion Technologies during the 3rd quarter valued at about $56,000. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of BitMine Immersion Technologies during the 3rd quarter valued at about $62,000.

BitMine Immersion Technologies Stock Performance

Shares of BMNR stock opened at $24.93 on Tuesday. The stock’s fifty day moving average is $18.71 and its two-hundred day moving average is $19.32. The firm has a market capitalization of $15.04 billion, a P/E ratio of 498.60 and a beta of 1.61. BitMine Immersion Technologies has a fifty-two week low of $12.80 and a fifty-two week high of $65.60.

BitMine Immersion Technologies (NYSE:BMNR) last announced its earnings results on Tuesday, July 14th. The company reported ($128.25) earnings per share (EPS) for the quarter. BitMine Immersion Technologies had a positive return on equity of 3.35% and a negative net margin of 14,306.56%.The business had revenue of $46.53 million for the quarter. On average, equities analysts forecast that BitMine Immersion Technologies will post 0.06 earnings per share 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.