27,133 Shares in BitMine Immersion Technologies, Inc. $BMNR Acquired by IFP Advisors Inc

IFP Advisors Inc acquired a new stake in shares of BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 27,133 shares of the company’s stock, valued at approximately $1,409,000.

Several other large investors have also made changes to their positions in the business. Strategic Advocates LLC purchased a new stake in shares of BitMine Immersion Technologies in the 3rd quarter valued at $27,000. JPMorgan Chase & Co. purchased a new position in shares of BitMine Immersion Technologies during the third quarter worth $102,517,000. CIBC Private Wealth Group LLC acquired a new position in BitMine Immersion Technologies during the third quarter valued at $62,000. Centaurus Financial Inc. acquired a new position in BitMine Immersion Technologies during the third quarter valued at $1,168,000. Finally, Sunbelt Securities Inc. purchased a new stake in BitMine Immersion Technologies in the third quarter valued at $187,000.

BitMine Immersion Technologies Stock Down 0.9%

NYSEAMERICAN:BMNR opened at $20.94 on Monday. The company has a 50 day moving average price of $23.23 and a 200-day moving average price of $35.27. BitMine Immersion Technologies, Inc. has a 1-year low of $3.20 and a 1-year high of $161.00.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Cantor Fitzgerald assumed coverage on BitMine Immersion Technologies in a research report on Monday, January 5th. They set an “overweight” rating and a $39.00 price target on the stock. B. Riley Financial lowered their target price on BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $34.50.

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.