Traders Purchase High Volume of Call Options on BitMine Immersion Technologies (NYSEAMERICAN:BMNR)

BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) was the recipient of unusually large options trading on Friday. Stock investors purchased 252,423 call options on the stock. This is an increase of approximately 47% compared to the typical volume of 171,607 call options.

Hedge Funds Weigh In On BitMine Immersion Technologies

Large investors have recently made changes to their positions in the business. CNB Bank purchased a new position in BitMine Immersion Technologies in the 3rd quarter worth about $26,000. Strategic Advocates LLC bought a new position in BitMine Immersion Technologies during the third quarter valued at approximately $27,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in BitMine Immersion Technologies in the fourth quarter worth approximately $27,000. Ankerstar Wealth LLC purchased a new stake in BitMine Immersion Technologies in the fourth quarter worth approximately $27,000. Finally, Lodestone Wealth Management LLC bought a new stake in BitMine Immersion Technologies in the 4th quarter worth approximately $30,000.

BitMine Immersion Technologies Trading Up 2.3%

Shares of BMNR stock opened at $22.95 on Friday. BitMine Immersion Technologies has a fifty-two week low of $3.20 and a fifty-two week high of $161.00. The business’s 50 day moving average price is $20.59 and its 200-day moving average price is $31.24.

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 company had revenue of $2.29 million for the quarter. BitMine Immersion Technologies had a negative net margin of 67,546.19% and a positive return on equity of 7.89%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. B. Riley Financial reduced their price objective 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. Cantor Fitzgerald raised shares of BitMine Immersion Technologies to a “strong-buy” rating in a research note on Thursday, April 9th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $34.50.

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.