Marathon Digital (NASDAQ:MARA) Trading Down 1.5%

Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded down 1.5% during trading on Wednesday . The company traded as low as $18.67 and last traded at $19.14. 22,311,228 shares were traded during trading, a decline of 69% from the average session volume of 73,061,250 shares. The stock had previously closed at $19.44.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com raised Marathon Digital from a “sell” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a report on Wednesday, April 10th. HC Wainwright reissued a “buy” rating and set a $35.00 price objective on shares of Marathon Digital in a report on Tuesday, March 19th. Chardan Capital increased their price objective on Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Finally, BTIG Research upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Marathon Digital has an average rating of “Hold” and a consensus target price of $21.11.

Marathon Digital Stock Performance

The firm has a 50 day moving average of $21.11 and a two-hundred day moving average of $17.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 30.51 and a current ratio of 30.50. The stock has a market cap of $5.19 billion, a P/E ratio of 23.08 and a beta of 5.36.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data 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). Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. The firm had revenue of $156.77 million during the quarter, compared to the consensus estimate of $138.15 million. On average, research analysts predict that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Trading of Marathon Digital

A number of hedge funds have recently modified their holdings of MARA. Global Retirement Partners LLC increased its stake in shares of Marathon Digital by 7.7% in the 1st quarter. Global Retirement Partners LLC now owns 9,152 shares of the business services provider’s stock valued at $207,000 after buying an additional 658 shares during the period. Intrepid Financial Planning Group LLC increased its stake in shares of Marathon Digital by 4.1% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider’s stock valued at $555,000 after buying an additional 930 shares during the period. Arizona State Retirement System increased its stake in shares of Marathon Digital by 3.0% in the 3rd quarter. Arizona State Retirement System now owns 48,395 shares of the business services provider’s stock valued at $411,000 after buying an additional 1,419 shares during the period. Versant Capital Management Inc increased its stake in shares of Marathon Digital by 752.3% in the 4th quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock valued at $39,000 after buying an additional 1,467 shares during the period. Finally, CWM LLC increased its stake 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 valued at $107,000 after buying an additional 1,754 shares during the period. Institutional investors 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.