Investors Buy Large Volume of BitMine Immersion Technologies Call Options (NYSEAMERICAN:BMNR)

BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) saw some unusual options trading activity on Friday. Stock traders purchased 291,287 call options on the company. This represents an increase of approximately 29% compared to the typical daily volume of 225,718 call options.

BitMine Immersion Technologies Trading Up 0.3%

Shares of BitMine Immersion Technologies stock opened at $56.65 on Friday. The stock has a market cap of $15.83 billion and a price-to-earnings ratio of -128.75. BitMine Immersion Technologies has a 1 year low of $1.93 and a 1 year high of $161.00. The company’s fifty day simple moving average is $48.58.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Thomas Jong Lee bought 222,222 shares of the business’s stock in a transaction that occurred on Wednesday, July 9th. The shares were acquired at an average cost of $4.50 per share, with a total value of $999,999.00. Following the completion of the purchase, the director directly owned 222,222 shares in the company, valued at $999,999. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Institutional Trading of BitMine Immersion Technologies

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

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.