Van ECK Associates Corp Has $14.31 Million Stock Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Van ECK Associates Corp reduced its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 4.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 633,683 shares of the business services provider’s stock after selling 26,100 shares during the period. Van ECK Associates Corp owned 0.24% of Marathon Digital worth $14,308,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Versant Capital Management Inc raised its holdings in Marathon Digital by 752.3% during the 4th quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock worth $39,000 after purchasing an additional 1,467 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Marathon Digital during the 4th quarter worth $61,000. GAMMA Investing LLC bought a new stake in shares of Marathon Digital during the 4th quarter valued at $75,000. CWM LLC boosted its position in shares of Marathon Digital by 62.5% in the 4th quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock worth $107,000 after purchasing an additional 1,754 shares during the last quarter. Finally, Kestra Advisory Services LLC grew its stake in shares of Marathon Digital by 16.8% during the third quarter. Kestra Advisory Services LLC now owns 12,888 shares of the business services provider’s stock worth $110,000 after purchasing an additional 1,858 shares during the period. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Stock Down 4.6 %

Shares of MARA stock traded down $0.97 during trading hours on Friday, hitting $20.01. 32,490,502 shares of the company were exchanged, compared to its average volume of 63,123,461. Marathon Digital Holdings, Inc. has a 52 week low of $7.16 and a 52 week high of $34.09. The company has a current ratio of 23.07, a quick ratio of 23.07 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $19.78 and a two-hundred day moving average of $20.84. The company has a market capitalization of $5.66 billion, a PE ratio of 9.13 and a beta of 5.56.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Thursday, May 9th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). The firm had revenue of $165.20 million for the quarter, compared to the consensus estimate of $193.89 million. Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. Analysts anticipate that Marathon Digital Holdings, Inc. will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Marathon Digital news, Director Said Ouissal sold 10,217 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $20.50, for a total value of $209,448.50. Following the sale, the director now owns 60,046 shares in the company, valued at approximately $1,230,943. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.11% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MARA has been the topic of several analyst reports. StockNews.com lowered Marathon Digital from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Digital from $16.50 to $14.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 4th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research note on Thursday, June 20th. B. Riley cut their target price on shares of Marathon Digital from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Finally, Chardan Capital decreased their price target on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.33.

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.