Marathon Digital (NASDAQ:MARA) Stock Price Up 0.4%

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) were up 0.4% during trading on Thursday . The company traded as high as $20.35 and last traded at $20.17. Approximately 13,111,289 shares traded hands during trading, a decline of 81% from the average daily volume of 69,969,117 shares. The stock had previously closed at $20.09.

Analyst Ratings Changes

A number of analysts have recently issued reports on MARA shares. StockNews.com raised shares of Marathon Digital from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 target price on shares of Marathon Digital in a research report on Tuesday, March 19th. Chardan Capital reduced their target price on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a report on Wednesday, April 10th. Finally, BTIG Research upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.83.

Marathon Digital Stock Down 2.2 %

The company has a 50 day moving average price of $19.60 and a two-hundred day moving average price of $18.46. The stock has a market cap of $5.36 billion, a PE ratio of 24.01 and a beta of 5.38. 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 (NASDAQ:MARA) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $138.15 million. Marathon Digital had a net margin of 48.93% and a negative return on equity of 4.61%. Analysts expect that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Marathon Digital

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position 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 in the last quarter. Charles Schwab Investment Management Inc. grew its stake 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 acquiring an additional 410,146 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Marathon Digital by 29.7% in 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 purchasing an additional 296,776 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Marathon Digital by 13.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 793,444 shares of the business services provider’s stock worth $18,638,000 after acquiring an additional 95,946 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Marathon Digital by 22.1% during the 4th quarter. Van ECK Associates Corp now owns 659,783 shares of the business services provider’s stock worth $15,499,000 after buying an additional 119,470 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other 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.