BitMine Immersion Technologies (NYSEAMERICAN:BMNR) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of BitMine Immersion Technologies (NYSEAMERICAN:BMNR) to a strong-buy rating in a research note published on Monday,Zacks.com reports.

A number of other research firms have also weighed in on BMNR. B. Riley reduced their price objective 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. Zacks Research raised BitMine Immersion Technologies to a “hold” rating in a report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $43.00.

BitMine Immersion Technologies Stock Performance

NYSEAMERICAN BMNR opened at $30.36 on Monday. The stock has a market capitalization of $12.93 billion and a P/E ratio of -69.00. BitMine Immersion Technologies has a 52 week low of $3.20 and a 52 week high of $161.00. The firm’s 50-day simple moving average is $33.53.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) last posted its earnings results on Friday, November 21st. The company reported $15.90 earnings per share for the quarter. BitMine Immersion Technologies had a net margin of 5,719.06% and a return on equity of 16.02%. The firm had revenue of $1.32 million during the quarter.

BitMine Immersion Technologies Dividend Announcement

The firm also recently declared an annual dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 8th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a yield of 3.0%.

Institutional Trading of BitMine Immersion Technologies

Several institutional investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new position in BitMine Immersion Technologies in the 2nd quarter worth approximately $374,000. Lauer Wealth LLC bought a new stake in shares of BitMine Immersion Technologies during the second quarter valued at approximately $363,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of BitMine Immersion Technologies during the second quarter valued at approximately $508,000. Sassicaia Capital Advisers LLC purchased a new position in shares of BitMine Immersion Technologies in the second quarter worth $1,570,000. Finally, Marex Group plc bought a new position in shares of BitMine Immersion Technologies during the second quarter worth $465,000.

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.