D.A. Davidson & CO. Makes New Investment in BitMine Immersion Technologies, Inc. $BMNR

D.A. Davidson & CO. bought a new position in shares of BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 33,230 shares of the company’s stock, valued at approximately $1,726,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BMNR. Quintet Private Bank Europe S.A. acquired a new position in BitMine Immersion Technologies during the 3rd quarter worth $30,000. HM Payson & Co. acquired a new stake in shares of BitMine Immersion Technologies in the 3rd quarter valued at $35,000. Rise Advisors LLC bought a new stake in shares of BitMine Immersion Technologies during the third quarter worth $55,000. City Holding Co. acquired a new position in shares of BitMine Immersion Technologies during the third quarter valued at $93,000. Finally, HBK Sorce Advisory LLC acquired a new position in shares of BitMine Immersion Technologies during the third quarter valued at $176,000.

Analysts Set New Price Targets

BMNR has been the subject of a number of research reports. Cantor Fitzgerald started coverage on BitMine Immersion Technologies in a research report on Monday. They issued an “overweight” rating and a $39.00 price objective for the company. Zacks Research raised shares of BitMine Immersion Technologies to a “hold” rating in a research note on Friday, October 17th. Finally, B. Riley lowered their price target on shares of BitMine Immersion Technologies from $90.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $43.00.

BitMine Immersion Technologies Stock Down 3.9%

NYSEAMERICAN BMNR opened at $30.06 on Friday. BitMine Immersion Technologies, Inc. has a 12 month low of $3.20 and a 12 month high of $161.00. The firm has a 50-day moving average of $32.93. The company has a market capitalization of $12.80 billion and a P/E ratio of -68.32.

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

BitMine Immersion Technologies Dividend Announcement

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

BitMine Immersion Technologies Company 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.