Marathon Digital (NASDAQ:MARA) Stock Price Up 3%

Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded up 3% on Friday . The company traded as high as $15.70 and last traded at $15.48. 12,655,958 shares changed hands during trading, a decline of 83% from the average session volume of 73,479,305 shares. The stock had previously closed at $15.03.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MARA shares. HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of Marathon Digital in a report on Tuesday, March 19th. Chardan Capital boosted their target price on shares of Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. 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. JPMorgan Chase & Co. upped their price objective on shares of 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 cut Marathon Digital from a “hold” rating to a “sell” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $21.11.

Marathon Digital Trading Up 10.6 %

The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 18.92 and a beta of 5.36. The company’s 50-day moving average price is $22.07 and its 200-day moving average price is $17.39. The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data 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). Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. The firm had revenue of $156.77 million during the quarter, compared to analyst estimates of $138.15 million. Equities analysts expect that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Marathon Digital

A number of large investors have recently modified their holdings of the business. Advisor Group Holdings Inc. grew its stake in Marathon Digital by 68.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 7,353 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 2,984 shares in the last quarter. Macquarie Group Ltd. lifted its position in Marathon Digital by 96.8% during the second quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider’s stock worth $29,000 after buying an additional 2,641 shares in the last quarter. Smith Anglin Financial LLC acquired a new position in Marathon Digital during the fourth quarter worth $34,000. Cetera Advisors LLC acquired a new stake in shares of Marathon Digital in the 4th quarter worth $36,000. Finally, Quantbot Technologies LP purchased a new position in shares of Marathon Digital during the 1st quarter worth $37,000. Hedge funds and other 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.