Marathon Digital (NASDAQ:MARA) Stock Price Up 7.7%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price was up 7.7% on Tuesday . The stock traded as high as $19.47 and last traded at $18.91. Approximately 27,857,472 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 73,246,164 shares. The stock had previously closed at $17.55.

Wall Street Analyst Weigh In

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

Marathon Digital Trading Down 1.8 %

The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20. The stock has a market cap of $5.11 billion, a PE ratio of 22.73 and a beta of 5.36. The business’s fifty day moving average is $21.27 and its 200 day moving average is $17.73.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The business had revenue of $156.77 million for the quarter, compared to analyst estimates 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, analysts predict that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Marathon Digital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Marathon Digital by 5.7% during the third quarter. Vanguard Group Inc. now owns 18,523,195 shares of the business services provider’s stock worth $157,447,000 after acquiring an additional 1,000,225 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Marathon Digital by 29.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock worth $30,429,000 after acquiring an additional 296,776 shares during the last quarter. L2 Asset Management LLC acquired a new position in Marathon Digital during the third quarter worth about $300,000. SG Americas Securities LLC raised its position in shares of Marathon Digital by 203.9% in the fourth quarter. SG Americas Securities LLC now owns 266,176 shares of the business services provider’s stock valued at $6,252,000 after buying an additional 178,578 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new position in shares of Marathon Digital in the fourth quarter valued at approximately $200,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

About Marathon Digital

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.