Marathon Digital (NASDAQ:MARA) Stock Price Down 0.2%

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded down 0.2% during trading on Monday . The company traded as low as $16.33 and last traded at $16.46. 23,519,130 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 73,307,828 shares. The stock had previously closed at $16.50.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $35.00 price objective on shares of Marathon Digital in a report on Tuesday, March 19th. BTIG Research upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Wednesday, January 17th. 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 report on Wednesday, April 10th. 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 research note on Monday, March 4th. Finally, StockNews.com upgraded shares of Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $21.11.

Marathon Digital Trading Up 10.8 %

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 market cap of $5.20 billion, a PE ratio of 23.14 and a beta of 5.36. The company’s 50-day moving average is $21.47 and its 200 day moving average is $17.72.

Marathon Digital (NASDAQ:MARA) last issued its quarterly 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 firm had revenue of $156.77 million during the quarter, compared to analysts’ expectations of $138.15 million. As a group, sell-side analysts predict that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MARA. Vontobel Holding Ltd. grew its stake in Marathon Digital by 280.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 41,546 shares of the business services provider’s stock valued at $353,000 after buying an additional 30,631 shares during the last quarter. AE Wealth Management LLC grew its stake in Marathon Digital by 36.8% in the 3rd quarter. AE Wealth Management LLC now owns 54,037 shares of the business services provider’s stock valued at $459,000 after buying an additional 14,522 shares during the last quarter. IFP Advisors Inc grew its stake in Marathon Digital by 48.2% in the 3rd 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 last quarter. Exchange Traded Concepts LLC grew its stake in Marathon Digital by 105.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 697,498 shares of the business services provider’s stock valued at $5,929,000 after buying an additional 358,220 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC grew its position in Marathon Digital by 2.7% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 83,661 shares of the business services provider’s stock worth $711,000 after purchasing an additional 2,181 shares during the last quarter. 44.53% of the stock is currently 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.