Marathon Digital (NASDAQ:MARA) Stock Price Down 1.7%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price fell 1.7% on Wednesday . The stock traded as low as $14.18 and last traded at $14.35. 11,709,018 shares changed hands during trading, a decline of 84% from the average session volume of 74,417,250 shares. The stock had previously closed at $14.60.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. BTIG Research upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Wednesday, January 17th. StockNews.com lowered shares of Marathon Digital from a “hold” rating to a “sell” rating in a research report on Monday. JPMorgan Chase & Co. raised their target price on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. Chardan Capital boosted their price target on Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Finally, HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of Marathon Digital in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.11.

Marathon Digital Trading Down 1.0 %

The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 17.08 and a beta of 5.36. The company has a debt-to-equity ratio of 0.20, a quick ratio of 30.51 and a current ratio of 30.50. The business has a fifty day moving average price of $22.18 and a 200 day moving average price of $17.36.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). The business had revenue of $156.77 million during the quarter, compared to analyst estimates of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. As a group, equities analysts forecast that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current year.

Institutional Investors Weigh In On Marathon Digital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MARA. Advisor Group Holdings Inc. increased its position in shares of Marathon Digital by 68.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 7,353 shares of the business services provider’s stock worth $25,000 after acquiring an additional 2,984 shares during the last quarter. Macquarie Group Ltd. grew its stake in Marathon Digital by 96.8% during the 2nd quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 2,641 shares in the last quarter. Smith Anglin Financial LLC purchased a new stake in Marathon Digital during the 4th quarter worth approximately $34,000. Cetera Advisors LLC acquired a new position in shares of Marathon Digital in the 4th quarter valued at approximately $36,000. Finally, Quantbot Technologies LP purchased a new position in shares of Marathon Digital during the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Company Profile

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.