BitMine Immersion Technologies (NYSEAMERICAN:BMNR) Shares Gap Down – Here’s What Happened

BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) gapped down prior to trading on Tuesday . The stock had previously closed at $31.10, but opened at $29.89. BitMine Immersion Technologies shares last traded at $30.2560, with a volume of 11,134,495 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BMNR shares. Zacks Research raised BitMine Immersion Technologies to a “hold” rating in a research note on Friday, October 17th. B. Riley dropped their price target on shares of BitMine Immersion Technologies from $90.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, BitMine Immersion Technologies currently has an average rating of “Buy” and a consensus target price of $47.00.

BitMine Immersion Technologies Stock Down 2.5%

The firm has a market cap of $8.47 billion and a P/E ratio of -68.97. The firm has a fifty day moving average price of $47.89.

BitMine Immersion Technologies Dividend Announcement

The firm also recently disclosed an annual dividend, which will be paid on Monday, December 29th. Stockholders of record on Monday, December 8th will be given a $0.01 dividend. This represents a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, December 8th.

Institutional Investors Weigh In On BitMine Immersion Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMNR. XTX Topco Ltd acquired a new position in BitMine Immersion Technologies during the second quarter valued at approximately $374,000. Lauer Wealth LLC acquired a new position in BitMine Immersion Technologies during the second quarter worth $363,000. Skandinaviska Enskilda Banken AB publ bought a new stake in BitMine Immersion Technologies during the second quarter worth $508,000. Sassicaia Capital Advisers LLC acquired a new stake in BitMine Immersion Technologies in the second quarter valued at $1,570,000. Finally, Marex Group plc acquired a new position in shares of BitMine Immersion Technologies during the 2nd quarter worth about $465,000.

About BitMine Immersion Technologies

BitMine Immersion Technologies Inc focused on bitcoin mining using immersion technology. BitMine Immersion Technologies Inc is based in ATLANTA, GA.