Marathon Digital (NASDAQ:MARA) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Marathon Digital (NASDAQ:MARA) from a hold rating to a sell rating in a research note released on Monday morning.

MARA has been the subject of several other research reports. JPMorgan Chase & Co. lifted their target price on Marathon Digital from $16.00 to $16.50 and gave the stock an underweight rating in a research report on Wednesday, April 10th. HC Wainwright reaffirmed a buy rating and issued a $35.00 price objective on shares of Marathon Digital in a report on Tuesday, March 19th. Chardan Capital increased their target price 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. Finally, BTIG Research upgraded shares of Marathon Digital from a neutral rating to a buy rating and set a $27.00 price target on the stock in a research report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $21.11.

Marathon Digital Trading Up 0.2 %

NASDAQ MARA opened at $14.63 on Monday. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 17.42 and a beta of 5.36. The company has a debt-to-equity ratio of 0.20, a current ratio of 30.50 and a quick ratio of 30.51. Marathon Digital has a 12 month low of $7.16 and a 12 month high of $34.09. The company’s fifty day moving average price is $22.07 and its two-hundred day moving average price is $17.39.

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

Hedge Funds Weigh In On Marathon Digital

Several institutional investors have recently modified their holdings of MARA. Osaic Holdings Inc. boosted its stake in Marathon Digital by 11.0% during the 2nd quarter. Osaic Holdings Inc. now owns 7,676 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 762 shares during the period. Captrust Financial Advisors boosted its position in shares of Marathon Digital by 5.9% during the second quarter. Captrust Financial Advisors now owns 16,738 shares of the business services provider’s stock worth $232,000 after buying an additional 928 shares during the period. Intrepid Financial Planning Group LLC boosted its position 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 worth $555,000 after buying an additional 930 shares during the period. Private Advisor Group LLC grew its holdings in Marathon Digital by 6.1% in the 1st quarter. Private Advisor Group LLC now owns 17,709 shares of the business services provider’s stock worth $495,000 after buying an additional 1,015 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Marathon Digital by 17.8% in the 2nd 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 period. Institutional investors 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.