BitMine Immersion Technologies, Inc. $BMNR Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its stake in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 98.4% in the third quarter, Holdings Channel reports. The institutional investor owned 616,063 shares of the company’s stock after buying an additional 305,539 shares during the quarter. Commonwealth Equity Services LLC’s holdings in BitMine Immersion Technologies were worth $16,283,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of BitMine Immersion Technologies by 1,696.6% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,060 shares of the company’s stock valued at $28,000 after acquiring an additional 1,001 shares in the last quarter. Quintet Private Bank Europe S.A. raised its position in shares of BitMine Immersion Technologies by 100.0% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 1,150 shares of the company’s stock worth $30,000 after purchasing an additional 575 shares during the last quarter. Legacy Wealth Managment LLC ID raised its position in shares of BitMine Immersion Technologies by 40.8% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 1,966 shares of the company’s stock worth $39,000 after purchasing an additional 570 shares during the last quarter. Continuum Advisory LLC bought a new position in BitMine Immersion Technologies in the 2nd quarter worth about $53,000. Finally, Western Wealth Management LLC bought a new position in BitMine Immersion Technologies in the 1st quarter worth about $58,000.

BitMine Immersion Technologies Trading Down 2.8%

Shares of BMNR opened at $18.08 on Wednesday. The business’s fifty day simple moving average is $23.75 and its two-hundred day simple moving average is $20.66. BitMine Immersion Technologies, Inc. has a 12 month low of $12.80 and a 12 month high of $42.08.

BitMine Immersion Technologies (NYSE:BMNR) last announced its quarterly earnings results on Tuesday, November 10th. The company reported ($10.57) earnings per share (EPS) for the quarter. The business had revenue of $64.94 million for the quarter. BitMine Immersion Technologies had a negative net margin of 14,306.56% and a positive return on equity of 3.35%. Equities analysts expect that BitMine Immersion Technologies, Inc. will post 0.06 earnings per share for the current year.

Wall Street Analyst Weigh In

BMNR has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of BitMine Immersion Technologies in a research report on Tuesday, October 13th. Wall Street Zen raised shares of BitMine Immersion Technologies from a “strong sell” rating to a “sell” rating in a report on Saturday, October 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of BitMine Immersion Technologies in a research note on Tuesday, October 6th. Finally, B. Riley Financial increased their price target on shares of BitMine Immersion Technologies from $30.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.80.

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.