Marathon Digital (NASDAQ:MARA) Stock Price Down 0.2%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price fell 0.2% during mid-day trading on Monday . The company traded as low as $16.33 and last traded at $16.46. 23,519,130 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 73,307,828 shares. The stock had previously closed at $16.50.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MARA shares. StockNews.com raised shares of Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday. BTIG Research raised 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. Chardan Capital boosted their price target on shares of Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of Marathon Digital in a report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $21.11.

Marathon Digital Stock Performance

The firm has a fifty day simple moving average of $21.47 and a 200-day simple moving average of $17.72. The company has a market cap of $5.20 billion, a PE ratio of 23.14 and a beta of 5.36. 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 issued 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). The firm had revenue of $156.77 million for the quarter, compared to analysts’ expectations of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. On average, research analysts forecast that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

Several hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC grew its holdings in shares of Marathon Digital by 7.7% during the first quarter. Global Retirement Partners LLC now owns 9,152 shares of the business services provider’s stock worth $207,000 after purchasing an additional 658 shares during the last quarter. Wealthstar Advisors LLC purchased a new position in shares of Marathon Digital during the first quarter worth about $248,000. United Capital Management of KS Inc. grew its holdings in shares of Marathon Digital by 49.9% during the first quarter. United Capital Management of KS Inc. now owns 19,088 shares of the business services provider’s stock worth $431,000 after buying an additional 6,350 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Marathon Digital by 27.4% during the first quarter. Diversified Trust Co now owns 38,355 shares of the business services provider’s stock worth $866,000 after buying an additional 8,255 shares during the last quarter. Finally, SteelPeak Wealth LLC purchased a new position in shares of Marathon Digital during the first quarter worth about $624,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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.