Marathon Digital (NASDAQ:MARA) Trading Up 2%

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) were up 2% during trading on Tuesday . The stock traded as high as $21.91 and last traded at $21.63. Approximately 18,748,406 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 67,131,570 shares. The stock had previously closed at $21.21.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MARA shares. StockNews.com downgraded shares of Marathon Digital from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. B. Riley reduced their price objective on shares of Marathon Digital from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. JPMorgan Chase & Co. boosted their price objective on shares of Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a research note on Wednesday, April 10th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research note on Tuesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Marathon Digital in a research note on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.69.

Marathon Digital Trading Down 1.0 %

The stock has a market capitalization of $5.67 billion, a P/E ratio of 9.33 and a beta of 5.38. 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 stock’s fifty day moving average price is $19.04 and its two-hundred day moving average price is $19.59.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The business had revenue of $156.77 million during the quarter, compared to the consensus estimate of $138.15 million. Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. Equities research analysts forecast that Marathon Digital Holdings, Inc. will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Marathon Digital

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Marathon Digital by 26.7% during the 4th quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock valued at $551,395,000 after buying an additional 4,950,392 shares during the last quarter. Hel Ved Capital Management Ltd bought a new stake in Marathon Digital during the 4th quarter valued at $11,531,000. Charles Schwab Investment Management Inc. raised its holdings in Marathon Digital by 29.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock valued at $42,840,000 after buying an additional 410,146 shares during the last quarter. Barclays PLC raised its holdings in Marathon Digital by 159.2% during the 3rd quarter. Barclays PLC now owns 120,173 shares of the business services provider’s stock valued at $1,021,000 after buying an additional 323,134 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Marathon Digital by 29.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock valued at $30,429,000 after buying an additional 296,776 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors.

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.