Marathon Digital (NASDAQ:MARA) Sets New 12-Month Low at $9.91

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Rating) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $9.91 and last traded at $9.98, with a volume of 17741613 shares trading hands. The stock had previously closed at $11.80.

MARA has been the subject of a number of recent research reports. B. Riley cut their price objective on shares of Marathon Digital from $57.00 to $36.00 in a research report on Thursday, May 5th. Jefferies Financial Group assumed coverage on shares of Marathon Digital in a research report on Friday, January 28th. They set a “buy” rating and a $51.00 price objective for the company. BTIG Research assumed coverage on shares of Marathon Digital in a report on Tuesday, January 18th. They issued a “buy” rating and a $50.00 target price for the company. Zacks Investment Research downgraded shares of Marathon Digital from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Compass Point upped their target price on shares of Marathon Digital from $48.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, March 8th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Marathon Digital has an average rating of “Buy” and a consensus price target of $55.33.

The firm has a market cap of $1.21 billion, a PE ratio of -8.67 and a beta of 4.65. The company has a current ratio of 40.00, a quick ratio of 49.89 and a debt-to-equity ratio of 0.94. The firm’s 50 day simple moving average is $22.13 and its 200 day simple moving average is $32.39.

Marathon Digital (NASDAQ:MARAGet Rating) last announced its quarterly earnings results on Tuesday, March 1st. The business services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $60.28 million for the quarter, compared to analysts’ expectations of $60.23 million. Marathon Digital had a negative net margin of 68.64% and a positive return on equity of 19.68%. As a group, equities research analysts predict that Marathon Digital Holdings, Inc. will post 1.49 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in MARA. Renaissance Technologies LLC raised its position in shares of Marathon Digital by 871.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,417,438 shares of the business services provider’s stock valued at $46,577,000 after buying an additional 1,271,500 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Marathon Digital by 247.2% during the 4th quarter. JPMorgan Chase & Co. now owns 574,948 shares of the business services provider’s stock valued at $18,894,000 after buying an additional 965,623 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Marathon Digital by 138.1% during the 1st quarter. Allianz Asset Management GmbH now owns 1,161,688 shares of the business services provider’s stock valued at $32,470,000 after buying an additional 673,764 shares in the last quarter. Norges Bank purchased a new stake in shares of Marathon Digital during the 4th quarter valued at about $20,731,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Marathon Digital by 505.5% during the 3rd quarter. Goldman Sachs Group Inc. now owns 610,788 shares of the business services provider’s stock valued at $19,289,000 after buying an additional 509,917 shares in the last quarter. Institutional investors and hedge funds own 39.93% of the company’s stock.

Marathon Digital Company Profile (NASDAQ:MARA)

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States. As of December 31, 2021, it had approximately 8,115 bitcoins, which included the 4,794 bitcoins held in the investment fund.

Further Reading

Receive News & Ratings for Marathon Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Digital and related companies with MarketBeat.com's FREE daily email newsletter.