Marathon Digital (NASDAQ:MARA) Stock Price Down 1.7%

Marathon Digital Holdings, Inc. (NASDAQ:MARA) was down 1.7% during trading on Wednesday . The company traded as low as $14.18 and last traded at $14.35. Approximately 11,709,018 shares changed hands during trading, a decline of 84% from the average daily volume of 74,417,250 shares. The stock had previously closed at $14.60.

Analysts Set New Price Targets

A number of equities research analysts have commented on MARA shares. HC Wainwright restated a “buy” rating and set 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 objective for the company in a research report on Wednesday, January 17th. Chardan Capital raised their price objective on Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. raised their price objective on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. Finally, StockNews.com lowered Marathon Digital from a “hold” rating to a “sell” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $21.11.

Marathon Digital Trading Up 2.3 %

The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 17.89 and a beta of 5.36. The company has a current ratio of 30.50, a quick ratio of 30.51 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average price of $22.07 and a 200-day moving average price of $17.39.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). The firm had revenue of $156.77 million for the quarter, compared to analyst estimates of $138.15 million. Marathon Digital had a net margin of 48.93% and a negative return on equity of 4.61%. On average, equities research analysts predict that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Marathon Digital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its holdings in Marathon Digital by 11.0% in 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 during the last quarter. Captrust Financial Advisors lifted its holdings 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 worth $232,000 after purchasing an additional 928 shares during the last quarter. Intrepid Financial Planning Group LLC lifted its holdings in Marathon Digital by 4.1% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider’s stock worth $555,000 after purchasing an additional 930 shares during the last quarter. Private Advisor Group LLC lifted 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 purchasing an additional 1,015 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings 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 worth $93,000 after purchasing an additional 1,019 shares during the last quarter. 44.53% of the stock is currently 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.