Marathon Digital (NASDAQ:MARA) Shares Up 6.4%

Marathon Digital Holdings, Inc. (NASDAQ:MARA) rose 6.4% on Thursday . The stock traded as high as $15.58 and last traded at $15.56. Approximately 12,851,564 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 73,952,430 shares. The stock had previously closed at $14.63.

Analysts Set New Price Targets

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

Marathon Digital Stock Performance

The firm’s fifty day moving average price is $22.07 and its 200 day moving average price is $17.39. The firm has a market cap of $4.05 billion, a P/E ratio of 18.52 and a beta of 5.36. The company has a debt-to-equity ratio of 0.20, a quick ratio of 30.51 and a current ratio of 30.50.

Marathon Digital (NASDAQ:MARA) last issued 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). The business had revenue of $156.77 million during 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%. Sell-side analysts expect that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Marathon Digital

Hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in Marathon Digital in the first quarter worth about $37,000. Versant Capital Management Inc grew 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 worth $39,000 after buying an additional 1,467 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Marathon Digital during the fourth quarter valued at approximately $61,000. Captrust Financial Advisors lifted its position in Marathon Digital by 83.9% during the first quarter. Captrust Financial Advisors now owns 2,750 shares of the business services provider’s stock valued at $77,000 after acquiring an additional 1,255 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in Marathon Digital in the fourth quarter valued at approximately $75,000. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

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.