Marathon Digital (NASDAQ:MARA) Given New $21.00 Price Target at Chardan Capital

Marathon Digital (NASDAQ:MARA) had its price objective dropped by analysts at Chardan Capital from $30.00 to $21.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. Chardan Capital’s price target suggests a potential upside of 7.09% from the company’s previous close.

A number of other equities analysts have also weighed in on MARA. HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Marathon Digital in a research report on Tuesday, March 19th. BTIG Research upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Wednesday, January 17th. StockNews.com raised Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. raised their price target 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Marathon Digital currently has a consensus rating of “Hold” and an average target price of $19.83.

Marathon Digital Stock Performance

Shares of MARA opened at $19.61 on Wednesday. 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 company has a 50-day simple moving average of $19.82 and a 200-day simple moving average of $18.45. Marathon Digital has a 52-week low of $7.16 and a 52-week high of $34.09. The company has a market capitalization of $5.35 billion, a PE ratio of 24.06 and a beta of 5.38.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share 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 firm had revenue of $156.77 million during the quarter, compared to analyst estimates of $138.15 million. Equities research analysts predict that Marathon Digital will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Versant Capital Management Inc raised its position 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 purchasing an additional 1,467 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Marathon Digital during the 4th quarter worth approximately $61,000. GAMMA Investing LLC bought a new stake in shares of Marathon Digital in the 4th quarter valued at approximately $75,000. Xponance Inc. acquired a new stake in shares of Marathon Digital during the 3rd quarter valued at approximately $86,000. Finally, FinTrust Capital Advisors LLC acquired a new position in Marathon Digital in the first quarter worth $90,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

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.