Sovran Advisors LLC Purchases 38,965 Shares of BitMine Immersion Technologies, Inc. $BMNR

Sovran Advisors LLC boosted its position in BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) by 24.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 199,022 shares of the company’s stock after buying an additional 38,965 shares during the period. Sovran Advisors LLC’s holdings in BitMine Immersion Technologies were worth $5,403,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. XTX Topco Ltd acquired a new stake in BitMine Immersion Technologies during the 2nd quarter worth about $374,000. Sassicaia Capital Advisers LLC acquired a new position in shares of BitMine Immersion Technologies in the 2nd quarter valued at about $1,570,000. Marex Group plc bought a new stake in shares of BitMine Immersion Technologies during the 2nd quarter valued at about $465,000. Sanders Morris Harris LLC bought a new stake in shares of BitMine Immersion Technologies during the 3rd quarter valued at about $312,000. Finally, Quintet Private Bank Europe S.A. acquired a new stake in BitMine Immersion Technologies during the third quarter worth approximately $30,000.

BitMine Immersion Technologies Price Performance

BMNR opened at $19.45 on Friday. The company has a fifty day moving average price of $21.12 and a two-hundred day moving average price of $33.40. 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 released its quarterly earnings data on Tuesday, January 13th. The company reported ($0.05) earnings per share (EPS) for the quarter. The company 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%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BMNR shares. B. Riley Financial lowered their target price on BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Cantor Fitzgerald began coverage on BitMine Immersion Technologies in a report on Monday, January 5th. They set an “overweight” rating and a $39.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, BitMine Immersion Technologies presently has an average rating of “Buy” and a consensus price target of $34.50.

BitMine Immersion Technologies 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.