Marathon Digital (NASDAQ:MARA) Stock Price Down 5.2%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price was down 5.2% during trading on Tuesday . The stock traded as low as $14.29 and last traded at $14.36. Approximately 14,947,498 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 75,000,016 shares. The stock had previously closed at $15.15.

Analysts Set New Price Targets

Several equities research analysts recently commented on MARA shares. JPMorgan Chase & Co. boosted their price objective 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. HC Wainwright reiterated a “buy” rating and issued a $35.00 price objective on shares of Marathon Digital in a research report on Tuesday, March 19th. Chardan Capital increased their price objective on shares of Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. BTIG Research raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Wednesday, January 17th. Finally, StockNews.com cut shares of Marathon Digital from a “hold” rating to a “sell” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Marathon Digital currently has an average rating of “Hold” and an average price target of $21.11.

Marathon Digital Trading Up 0.2 %

The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20. The firm’s 50 day simple moving average is $22.07 and its two-hundred day simple moving average is $17.39. The stock has a market cap of $3.92 billion, a P/E ratio of 17.42 and a beta of 5.36.

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

Institutional Trading of Marathon Digital

Institutional investors have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. increased its stake in 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 valued at $25,000 after purchasing an additional 2,984 shares during the last quarter. Macquarie Group Ltd. increased its stake in Marathon Digital by 96.8% during the second 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 during the last quarter. Smith Anglin Financial LLC bought a new position in shares of Marathon Digital during the fourth quarter worth about $34,000. Cetera Advisors LLC bought a new position in shares of Marathon Digital during the fourth quarter worth about $36,000. Finally, Quantbot Technologies LP bought a new position in shares of Marathon Digital during the first quarter worth about $37,000. 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.