Marathon Digital (NASDAQ:MARA) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Marathon Digital (NASDAQ:MARA) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

A number of other equities analysts have also weighed in on the stock. BTIG Research upgraded shares of Marathon Digital from a neutral rating to a buy rating and set a $27.00 target price for the company in a research report on Wednesday, January 17th. Chardan Capital increased their price target 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. JPMorgan Chase & Co. increased their price target on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an underweight rating in a report on Wednesday, April 10th. Finally, HC Wainwright reaffirmed a buy rating and issued a $35.00 target price on shares of Marathon Digital in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $21.11.

Marathon Digital Stock Performance

MARA opened at $19.43 on Tuesday. 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’s fifty day moving average price is $20.96 and its two-hundred day moving average price is $17.81. Marathon Digital has a 1-year low of $7.16 and a 1-year high of $34.09. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 23.13 and a beta of 5.36.

Marathon Digital (NASDAQ:MARA) last posted its earnings results 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 firm had revenue of $156.77 million during the quarter, compared to the consensus estimate of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. On average, analysts expect that Marathon Digital will post -0.04 EPS for the current fiscal year.

Institutional Trading of Marathon Digital

Large investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its holdings in Marathon Digital by 752.3% during the 4th quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock valued at $39,000 after buying an additional 1,467 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Marathon Digital during the fourth quarter worth $61,000. GAMMA Investing LLC purchased a new position in shares of Marathon Digital during the fourth quarter valued at $75,000. IFP Advisors Inc increased its stake in shares of Marathon Digital by 48.2% during the third quarter. IFP Advisors Inc now owns 9,272 shares of the business services provider’s stock valued at $79,000 after buying an additional 3,017 shares during the period. Finally, Xponance Inc. purchased a new position in shares of Marathon Digital during the third quarter valued at $86,000. 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.