Harvest Fund Management Co. Ltd Purchases New Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Harvest Fund Management Co. Ltd purchased a new stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,596 shares of the business services provider’s stock, valued at approximately $61,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MARA. Vontobel Holding Ltd. grew its stake in shares of Marathon Digital by 280.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 41,546 shares of the business services provider’s stock valued at $353,000 after purchasing an additional 30,631 shares during the period. AE Wealth Management LLC grew its stake in shares of Marathon Digital by 36.8% in the 3rd quarter. AE Wealth Management LLC now owns 54,037 shares of the business services provider’s stock valued at $459,000 after purchasing an additional 14,522 shares during the period. IFP Advisors Inc boosted its holdings in shares of Marathon Digital by 48.2% in the 3rd quarter. IFP Advisors Inc now owns 9,272 shares of the business services provider’s stock worth $79,000 after acquiring an additional 3,017 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in shares of Marathon Digital by 2.7% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 83,661 shares of the business services provider’s stock worth $711,000 after acquiring an additional 2,181 shares in the last quarter. Finally, Xponance Inc. acquired a new position in shares of Marathon Digital in the 3rd quarter worth approximately $86,000. 44.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MARA has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a report on Wednesday, April 10th. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of Marathon Digital in a report on Tuesday, March 19th. Chardan Capital upped their price objective on Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. StockNews.com raised Marathon Digital from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $21.11.

Marathon Digital Price Performance

MARA opened at $19.39 on Friday. 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 Holdings, Inc. has a 12 month low of $7.16 and a 12 month high of $34.09. The company has a fifty day simple moving average of $21.11 and a 200 day simple moving average of $17.74. The stock has a market cap of $5.19 billion, a P/E ratio of 22.63 and a beta of 5.36.

Marathon Digital (NASDAQ:MARA) last released 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 firm had revenue of $156.77 million during the quarter, compared to the consensus estimate of $138.15 million. Marathon Digital had a net margin of 48.93% and a negative return on equity of 4.61%. On average, research analysts expect that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current year.

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.