CloudAlpha Capital Management Limited Hong Kong Takes $571,000 Position in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,300 shares of the business services provider’s stock, valued at approximately $571,000.

Several other institutional investors have also made changes to their positions in MARA. Advisor Group Holdings Inc. grew its position in Marathon Digital by 68.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 7,353 shares of the business services provider’s stock worth $25,000 after acquiring an additional 2,984 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Marathon Digital by 96.8% during the second quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 2,641 shares during the last quarter. Smith Anglin Financial LLC acquired a new position in Marathon Digital in the 4th quarter valued at $34,000. Cetera Advisors LLC acquired a new position in Marathon Digital during the 4th quarter worth $36,000. Finally, Quantbot Technologies LP bought a new stake in Marathon Digital during the first quarter valued at about $37,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. StockNews.com downgraded Marathon Digital from a “hold” rating to a “sell” rating in a research report on Monday. BTIG Research raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, January 17th. Chardan Capital boosted their price target on Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. upped their target price on Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a research note on Wednesday, April 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of Marathon Digital in a report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $21.11.

Marathon Digital Trading Up 0.2 %

Shares of NASDAQ:MARA traded up $0.03 during trading on Wednesday, hitting $14.63. 37,707,206 shares of the company’s stock were exchanged, compared to its average volume of 74,797,695. The firm has a 50-day moving average price of $22.18 and a two-hundred day moving average price of $17.36. Marathon Digital Holdings, Inc. has a 1-year low of $7.16 and a 1-year high of $34.09. The firm has a market cap of $3.92 billion, a P/E ratio of 17.42 and a beta of 5.36. The company has a current ratio of 30.50, a quick ratio of 30.51 and a debt-to-equity ratio of 0.20.

Marathon Digital (NASDAQ:MARA) last issued 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). Marathon Digital had a net margin of 48.93% and a negative return on equity of 4.61%. The business had revenue of $156.77 million for the quarter, compared to the consensus estimate of $138.15 million. Equities analysts predict that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current year.

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.