BitMine Immersion Technologies (NYSEAMERICAN:BMNR) Price Target Cut to $30.00 by Analysts at B. Riley Financial

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) had its price objective decreased by B. Riley Financial from $47.00 to $30.00 in a report issued on Monday morning,Benzinga reports. B. Riley Financial currently has a buy rating on the stock.

Separately, Cantor Fitzgerald initiated coverage on shares of BitMine Immersion Technologies in a report on Monday, January 5th. They issued an “overweight” rating and a $39.00 target price on the stock. Two investment 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 company. According to data from MarketBeat, BitMine Immersion Technologies currently has a consensus rating of “Buy” and an average target price of $34.50.

BitMine Immersion Technologies Stock Down 4.5%

NYSEAMERICAN BMNR opened at $19.22 on Monday. BitMine Immersion Technologies has a twelve month low of $3.20 and a twelve month high of $161.00. The business has a 50-day moving average price of $26.69 and a 200-day moving average price of $39.37.

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

Institutional Investors Weigh In On BitMine Immersion Technologies

Hedge funds have recently bought and sold shares of the business. CNB Bank bought a new stake in shares of BitMine Immersion Technologies in the 3rd quarter worth about $26,000. Strategic Advocates LLC purchased a new position in BitMine Immersion Technologies in the third quarter worth about $27,000. Quintet Private Bank Europe S.A. purchased a new position in BitMine Immersion Technologies in the third quarter worth about $30,000. Guerra Advisors Inc bought a new stake in BitMine Immersion Technologies during the third quarter worth approximately $31,000. Finally, Wellington Shields Capital Management LLC purchased a new stake in BitMine Immersion Technologies during the third quarter valued at approximately $31,000.

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.