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

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price fell 1.7% during trading on Wednesday . The company traded as low as $14.18 and last traded at $14.35. 11,709,018 shares traded 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

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

Marathon Digital Trading Up 2.3 %

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 firm has a 50-day moving average of $22.07 and a 200 day moving average of $17.39. The company has a market cap of $4.12 billion, a P/E ratio of 17.89 and a beta of 5.36.

Marathon Digital (NASDAQ:MARA) last announced its earnings results 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). 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. On average, analysts predict that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MARA. Advisor Group Holdings Inc. raised its stake in Marathon Digital by 68.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 7,353 shares of the business services provider’s stock worth $25,000 after buying an additional 2,984 shares during the period. Macquarie Group Ltd. raised 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 worth $29,000 after buying an additional 2,641 shares during the period. Smith Anglin Financial LLC acquired a new position in Marathon Digital during the 4th quarter worth approximately $34,000. Cetera Advisors LLC acquired a new position in Marathon Digital during the 4th quarter worth approximately $36,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Marathon Digital in the first quarter worth approximately $37,000. 44.53% of the stock is owned by institutional investors and hedge funds.

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.