Investors Purchase High Volume of Call Options on BitMine Immersion Technologies (NYSEAMERICAN:BMNR)

BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) saw unusually large options trading on Friday. Stock investors purchased 263,438 call options on the company. This represents an increase of approximately 40% compared to the average volume of 187,759 call options.

BitMine Immersion Technologies Stock Performance

BMNR stock opened at $55.09 on Friday. The firm has a market cap of $236.89 million and a P/E ratio of -125.20. BitMine Immersion Technologies has a 12 month low of $1.93 and a 12 month high of $161.00. The company has a 50-day simple moving average of $44.83.

Insider Transactions at BitMine Immersion Technologies

In related news, Director Thomas Jong Lee purchased 222,222 shares of BitMine Immersion Technologies stock in a transaction that occurred on Wednesday, July 9th. The stock was purchased at an average price of $4.50 per share, for a total transaction of $999,999.00. Following the transaction, the director directly owned 222,222 shares in the company, valued at approximately $999,999. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Institutional Trading of BitMine Immersion Technologies

A number of hedge funds have recently bought and sold shares of the business. Sassicaia Capital Advisers LLC acquired a new position in BitMine Immersion Technologies in the 2nd quarter valued at about $1,570,000. Skandinaviska Enskilda Banken AB publ acquired a new position in BitMine Immersion Technologies in the 2nd quarter valued at about $508,000. Marex Group plc acquired a new position in BitMine Immersion Technologies in the 2nd quarter valued at about $465,000. XTX Topco Ltd acquired a new position in BitMine Immersion Technologies in the 2nd quarter valued at about $374,000. Finally, Lauer Wealth LLC acquired a new position in BitMine Immersion Technologies in the 2nd quarter valued at about $363,000.

Analyst Upgrades and Downgrades

Separately, ThinkEquity upgraded BitMine Immersion Technologies to a “strong-buy” rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Strong Buy”.

BitMine Immersion Technologies Company Profile

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