JPMorgan Chase & Co. Takes $102.52 Million Position in BitMine Immersion Technologies, Inc. $BMNR

JPMorgan Chase & Co. purchased a new stake in shares of BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,974,144 shares of the company’s stock, valued at approximately $102,517,000. JPMorgan Chase & Co. owned approximately 0.71% of BitMine Immersion Technologies at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BMNR. CNB Bank purchased a new position in BitMine Immersion Technologies during the 3rd quarter valued at about $26,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of BitMine Immersion Technologies during the third quarter worth approximately $30,000. Guerra Advisors Inc purchased a new position in BitMine Immersion Technologies during the third quarter valued at approximately $31,000. Wellington Shields Capital Management LLC acquired a new position in BitMine Immersion Technologies in the 3rd quarter valued at approximately $31,000. Finally, HM Payson & Co. purchased a new stake in BitMine Immersion Technologies in the 3rd quarter worth approximately $35,000.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. B. Riley Financial dropped their price target on shares of BitMine Immersion Technologies from $90.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Cantor Fitzgerald began coverage on BitMine Immersion Technologies in a research note on Monday, January 5th. They issued an “overweight” rating and a $39.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, BitMine Immersion Technologies has a consensus rating of “Buy” and an average target price of $43.00.

BitMine Immersion Technologies Trading Up 0.9%

BMNR opened at $20.13 on Monday. The stock has a 50-day moving average of $26.93 and a 200-day moving average of $39.52. BitMine Immersion Technologies, Inc. has a 52-week low of $3.20 and a 52-week high of $161.00.

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) last issued its quarterly earnings data on Tuesday, January 13th. The company reported ($0.05) earnings per share for the quarter. The company had revenue of $2.29 million during the quarter. BitMine Immersion Technologies had a negative net margin of 67,546.19% and a positive return on equity of 7.89%.

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.