Machina Capital S.A.S. Acquires New Position in BitMine Immersion Technologies, Inc. $BMNR

Machina Capital S.A.S. bought a new position in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 35,719 shares of the company’s stock, valued at approximately $944,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Weiss Asset Management LP boosted its holdings in BitMine Immersion Technologies by 363.6% in the first quarter. Weiss Asset Management LP now owns 4,328,294 shares of the company’s stock valued at $85,614,000 after purchasing an additional 3,394,677 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of BitMine Immersion Technologies during the 2nd quarter valued at about $20,069,000. California Public Employees Retirement System purchased a new position in shares of BitMine Immersion Technologies during the 1st quarter valued at about $14,072,000. Assenagon Asset Management S.A. acquired a new position in shares of BitMine Immersion Technologies in the 3rd quarter valued at about $13,446,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of BitMine Immersion Technologies by 98.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 616,063 shares of the company’s stock valued at $16,283,000 after buying an additional 305,539 shares during the period.

Analyst Upgrades and Downgrades

BMNR has been the topic of a number of recent research reports. Zacks Research upgraded BitMine Immersion Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. B. Riley Financial lifted their price target on BitMine Immersion Technologies from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, September 22nd. Wall Street Zen upgraded BitMine Immersion Technologies from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 10th. Cantor Fitzgerald reissued an “overweight” rating on shares of BitMine Immersion Technologies in a report on Tuesday, October 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of BitMine Immersion Technologies in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.80.

BitMine Immersion Technologies Price Performance

NYSE BMNR opened at $18.47 on Friday. The stock’s 50 day simple moving average is $23.58 and its 200-day simple moving average is $20.56. The company has a market cap of $11.57 billion, a PE ratio of 160.33 and a beta of 1.80. BitMine Immersion Technologies, Inc. has a 1-year low of $12.80 and a 1-year high of $42.08.

BitMine Immersion Technologies (NYSE:BMNR) last announced its quarterly earnings data on Tuesday, November 10th. The company reported ($10.57) earnings per share (EPS) for the quarter. BitMine Immersion Technologies had a negative net margin of 5,058.36% and a positive return on equity of 0.23%. The business had revenue of $64.94 million for the quarter. On average, equities research analysts anticipate that BitMine Immersion Technologies, Inc. will post 0.23 EPS for the current fiscal year.

About BitMine Immersion Technologies

BitMine Immersion Technologies is a digital-asset company whose business has included Bitcoin mining and immersion-cooling technology. Immersion cooling uses liquid to manage the heat generated by computing equipment and can support the operation of mining hardware. The company has shifted its strategic focus toward acquiring and holding Ether as a treasury asset. Its history in Bitcoin mining and cooling technology provides context for its involvement in digital-asset infrastructure, while its current strategy centers on Ether.