Harvest Fund Management Co. Ltd Takes $61,000 Position in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Harvest Fund Management Co. Ltd bought a new stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,596 shares of the business services provider’s stock, valued at approximately $61,000.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC acquired a new position in Marathon Digital during the fourth quarter worth $75,000. New York State Common Retirement Fund grew its holdings in Marathon Digital by 26.6% in the fourth quarter. New York State Common Retirement Fund now owns 89,887 shares of the business services provider’s stock valued at $2,111,000 after purchasing an additional 18,890 shares during the last quarter. Jennison Associates LLC acquired a new stake in Marathon Digital in the fourth quarter valued at $499,000. Handelsbanken Fonder AB grew its holdings in Marathon Digital by 38.9% in the fourth quarter. Handelsbanken Fonder AB now owns 28,200 shares of the business services provider’s stock valued at $662,000 after purchasing an additional 7,900 shares during the last quarter. Finally, CWM LLC grew its holdings in Marathon Digital by 62.5% in the fourth quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 1,754 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Stock Performance

Marathon Digital stock opened at $19.39 on Friday. The stock’s 50-day moving average is $21.11 and its 200-day moving average is $17.74. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 22.63 and a beta of 5.36. The company has a debt-to-equity ratio of 0.20, a current ratio of 30.50 and a quick ratio of 30.51. Marathon Digital Holdings, Inc. has a 12 month low of $7.16 and a 12 month high of $34.09.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The firm had revenue of $156.77 million during the quarter, compared to analysts’ expectations of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. Equities analysts anticipate that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on MARA. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Wednesday, January 17th. StockNews.com upgraded Marathon Digital from a “sell” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price objective on Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a research report on Wednesday, April 10th. Chardan Capital upped their price objective on Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Finally, HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of Marathon Digital in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $21.11.

Marathon Digital 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.