The Manufacturers Life Insurance Company Has $2.61 Million Holdings in BitMine Immersion Technologies, Inc. $BMNR

The Manufacturers Life Insurance Company raised its position in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 612.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,063 shares of the company’s stock after acquiring an additional 113,532 shares during the period. The Manufacturers Life Insurance Company’s holdings in BitMine Immersion Technologies were worth $2,612,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rhumbline Advisers bought a new position in shares of BitMine Immersion Technologies during the third quarter worth approximately $305,000. Blair William & Co. IL bought a new stake in BitMine Immersion Technologies in the 3rd quarter valued at $444,000. CreativeOne Wealth LLC bought a new stake in BitMine Immersion Technologies in the 3rd quarter valued at $282,000. Jefferies Financial Group Inc. acquired a new position in BitMine Immersion Technologies in the 3rd quarter valued at $508,000. Finally, Banque Cantonale Vaudoise acquired a new position in BitMine Immersion Technologies in the 3rd quarter valued at $56,000.

BitMine Immersion Technologies Price Performance

Shares of NYSE BMNR opened at $18.81 on Friday. The business has a fifty day moving average price of $16.15 and a two-hundred day moving average price of $19.65. The stock has a market capitalization of $11.34 billion, a PE ratio of 376.12 and a beta of 1.30. BitMine Immersion Technologies, Inc. has a fifty-two week low of $12.80 and a fifty-two week high of $71.74.

BitMine Immersion Technologies (NYSE:BMNR) last issued its quarterly earnings results on Tuesday, July 14th. The company reported ($128.25) 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 company had revenue of $46.53 million during the quarter. On average, equities analysts expect that BitMine Immersion Technologies, Inc. will post 0.06 EPS for the current year.

Analysts Set New Price Targets

BMNR has been the subject of a number of research reports. Cantor Fitzgerald dropped their target price on BitMine Immersion Technologies from $39.00 to $30.30 and set an “overweight” rating for the company in a report on Wednesday, July 1st. B. Riley Financial lowered their price target on shares of BitMine Immersion Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of BitMine Immersion Technologies in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.65.

BitMine Immersion Technologies Profile

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.