Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares were up 7.2% on Wednesday . The company traded as high as $35.73 and last traded at $35.64. Approximately 185,457 shares changed hands during trading, a decline of 99% from the average daily volume of 20,592,229 shares. The stock had previously closed at $33.24.
A number of equities research analysts have recently weighed in on MARA shares. B. Riley lifted their price target on Marathon Digital from $54.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, September 15th. Compass Point began coverage on shares of Marathon Digital in a research note on Monday, June 21st. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Marathon Digital from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research note on Friday, September 17th.
The stock has a market cap of $3.55 billion, a price-to-earnings ratio of -92.52 and a beta of 4.54. The company’s 50-day simple moving average is $33.12 and its 200-day simple moving average is $33.06.
Institutional investors have recently bought and sold shares of the business. Paragon Wealth Strategies LLC purchased a new position in Marathon Digital during the 2nd quarter worth approximately $27,000. PNC Financial Services Group Inc. grew its position in Marathon Digital by 360.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 921 shares of the business services provider’s stock worth $29,000 after purchasing an additional 721 shares in the last quarter. Wells Fargo & Company MN grew its position in Marathon Digital by 56.3% during the 2nd quarter. Wells Fargo & Company MN now owns 1,307 shares of the business services provider’s stock worth $41,000 after purchasing an additional 471 shares in the last quarter. Macquarie Group Ltd. purchased a new position in Marathon Digital during the 2nd quarter worth approximately $43,000. Finally, NEXT Financial Group Inc grew its position in Marathon Digital by 63.4% during the 2nd quarter. NEXT Financial Group Inc now owns 1,389 shares of the business services provider’s stock worth $44,000 after purchasing an additional 539 shares in the last quarter. Hedge funds and other institutional investors own 35.44% of the company’s stock.
Marathon Digital Company Profile (NASDAQ:MARA)
Marathon Digital Holdings, Inc is a digital asset technology company, which engages in mining cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets. The company was founded on February 23, 2010 and is headquartered in Las Vegas, NV.
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