Marathon Digital (NASDAQ:MARA) Trading Down 5.2%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price dropped 5.2% during trading on Tuesday . The stock traded as low as $14.29 and last traded at $14.36. Approximately 14,947,498 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 75,000,016 shares. The stock had previously closed at $15.15.

Analyst Upgrades and Downgrades

MARA has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a research report on Wednesday, April 10th. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, January 17th. HC Wainwright restated a “buy” rating and set a $35.00 price objective on shares of Marathon Digital in a research note on Tuesday, March 19th. StockNews.com cut Marathon Digital from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Chardan Capital raised their target price on Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Marathon Digital has an average rating of “Hold” and an average price target of $21.11.

Marathon Digital Trading Down 2.8 %

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 business has a 50-day moving average of $22.18 and a two-hundred day moving average of $17.36. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 17.56 and a beta of 5.37.

Marathon Digital (NASDAQ:MARA) last posted 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). 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 the consensus estimate of $138.15 million. Research analysts predict that Marathon Digital Holdings, Inc. will post 0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its position in shares of Marathon Digital by 11.0% during the 2nd quarter. Osaic Holdings Inc. now owns 7,676 shares of the business services provider’s stock worth $116,000 after purchasing an additional 762 shares in the last quarter. Captrust Financial Advisors lifted its stake in Marathon Digital by 5.9% in the 2nd quarter. Captrust Financial Advisors now owns 16,738 shares of the business services provider’s stock valued at $232,000 after purchasing an additional 928 shares during the last quarter. Intrepid Financial Planning Group LLC raised its stake in shares of Marathon Digital by 4.1% during the fourth quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider’s stock valued at $555,000 after acquiring an additional 930 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Marathon Digital by 6.1% during the first quarter. Private Advisor Group LLC now owns 17,709 shares of the business services provider’s stock valued at $495,000 after acquiring an additional 1,015 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Marathon Digital by 17.8% during the second quarter. Russell Investments Group Ltd. now owns 6,736 shares of the business services provider’s stock valued at $93,000 after acquiring an additional 1,019 shares during the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

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.