Marathon Digital (NASDAQ:MARA) Stock Price Up 1.9%

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) rose 1.9% during mid-day trading on Friday . The company traded as high as $18.21 and last traded at $17.39. Approximately 19,934,030 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 70,335,031 shares. The stock had previously closed at $17.07.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. BTIG Research raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Wednesday, January 17th. JPMorgan Chase & Co. increased their price target on shares of Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a report on Wednesday, April 10th. HC Wainwright reissued a “buy” rating and issued a $35.00 price target on shares of Marathon Digital in a report on Tuesday, March 19th. Chardan Capital increased their price target on shares of Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Finally, StockNews.com raised shares of Marathon Digital from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $21.11.

Marathon Digital Price Performance

The company’s fifty day moving average price is $20.19 and its 200 day moving average price is $18.13. The company has a market capitalization of $4.78 billion, a P/E ratio of 20.86 and a beta of 5.38. The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20.

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). The business had revenue of $156.77 million for 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%. As a group, sell-side analysts forecast that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current year.

Institutional Trading of Marathon Digital

Large investors have recently made changes to their positions in the company. Versant Capital Management Inc boosted its position in Marathon Digital by 752.3% in the fourth 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 acquired a new stake in Marathon Digital in the fourth quarter valued at approximately $61,000. GAMMA Investing LLC acquired a new stake in Marathon Digital in the fourth quarter valued at approximately $75,000. Xponance Inc. acquired a new stake in Marathon Digital in the third quarter valued at approximately $86,000. Finally, FinTrust Capital Advisors LLC acquired a new stake in Marathon Digital in the first quarter valued at approximately $90,000. Institutional investors and hedge funds 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.