J. Derek Lewis & Associates Inc. Acquires Shares of 40,381 BitMine Immersion Technologies, Inc. $BMNR

J. Derek Lewis & Associates Inc. acquired a new position in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 40,381 shares of the company’s stock, valued at approximately $1,096,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BMNR. Strategic Advocates LLC purchased a new stake in shares of BitMine Immersion Technologies during the third quarter worth approximately $27,000. Financial Life Planners acquired a new position in BitMine Immersion Technologies in the 3rd quarter valued at $37,000. Larson Financial Group LLC acquired a new position in BitMine Immersion Technologies in the 3rd quarter valued at $37,000. Northwestern Mutual Wealth Management Co. purchased a new position in BitMine Immersion Technologies during the 3rd quarter worth $38,000. Finally, Ankerstar Wealth LLC purchased a new position in BitMine Immersion Technologies during the 4th quarter worth $27,000.

BitMine Immersion Technologies Stock Performance

BitMine Immersion Technologies stock opened at $16.17 on Friday. The company has a market cap of $9.21 billion and a P/E ratio of -124.37. BitMine Immersion Technologies, Inc. has a one year low of $3.92 and a one year high of $161.00. The business has a fifty day moving average of $19.77 and a two-hundred day moving average of $23.51.

BitMine Immersion Technologies (NYSE:BMNR) last posted its quarterly earnings results on Tuesday, April 14th. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $11.04 million for the quarter. BitMine Immersion Technologies had a positive return on equity of 5.59% and a negative net margin of 51,892.77%. Sell-side analysts predict that BitMine Immersion Technologies, Inc. will post 0.29 EPS for the current year.

Analyst Ratings Changes

BMNR has been the topic of several analyst reports. Cantor Fitzgerald raised shares of BitMine Immersion Technologies to a “strong-buy” rating in a report on Thursday, April 9th. B. Riley Financial reduced their price objective on shares of BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Finally, Weiss Ratings initiated coverage on BitMine Immersion Technologies in a research report on Friday, April 17th. They set a “sell (d-)” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, BitMine Immersion Technologies has an average rating of “Moderate Buy” and an average target price of $34.50.

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.