Marathon Digital (NASDAQ:MARA) Trading 7.7% Higher

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares shot up 7.7% during mid-day trading on Tuesday . The company traded as high as $19.47 and last traded at $18.91. 27,857,472 shares were traded during mid-day trading, a decline of 62% from the average session volume of 73,246,164 shares. The stock had previously closed at $17.55.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MARA shares. JPMorgan Chase & Co. lifted their target price on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research note on Wednesday, April 10th. HC Wainwright restated a “buy” rating and set a $35.00 price objective on shares of Marathon Digital in a research report on Tuesday, March 19th. Chardan Capital upped their target price on Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, January 17th. Finally, StockNews.com downgraded shares of Marathon Digital from a “hold” rating to a “sell” rating in a report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $21.11.

Marathon Digital Stock Up 11.9 %

The company has a current ratio of 30.50, a quick ratio of 30.51 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 22.51 and a beta of 5.37. The firm’s 50-day moving average price is $21.60 and its 200 day moving average price is $17.64.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wealthstar Advisors LLC acquired a new stake in shares of Marathon Digital in the 1st quarter valued at approximately $248,000. United Capital Management of KS Inc. grew its stake in shares of Marathon Digital by 49.9% during the first quarter. United Capital Management of KS Inc. now owns 19,088 shares of the business services provider’s stock worth $431,000 after buying an additional 6,350 shares during the last quarter. Diversified Trust Co raised its position in Marathon Digital by 27.4% in the first quarter. Diversified Trust Co now owns 38,355 shares of the business services provider’s stock valued at $866,000 after purchasing an additional 8,255 shares during the last quarter. SteelPeak Wealth LLC bought a new position in Marathon Digital during the 1st quarter worth $624,000. Finally, Pasadena Private Wealth LLC lifted its holdings in Marathon Digital by 25.2% during the 1st quarter. Pasadena Private Wealth LLC now owns 12,609 shares of the business services provider’s stock worth $285,000 after buying an additional 2,537 shares during the period. 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.