Van ECK Associates Corp Purchases 119,470 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Van ECK Associates Corp boosted its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 22.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 659,783 shares of the business services provider’s stock after buying an additional 119,470 shares during the period. Van ECK Associates Corp’s holdings in Marathon Digital were worth $15,499,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in shares of Marathon Digital by 752.3% during the 4th quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock worth $39,000 after acquiring an additional 1,467 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Marathon Digital in the fourth quarter worth $61,000. GAMMA Investing LLC purchased a new stake in Marathon Digital during the fourth quarter valued at $75,000. Xponance Inc. bought a new position in Marathon Digital during the third quarter valued at $86,000. Finally, CWM LLC lifted its position in Marathon Digital by 62.5% during the fourth quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 1,754 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Marathon Digital in a report on Tuesday, March 19th. StockNews.com raised Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Chardan Capital upped their price objective on Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. lifted 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. Finally, BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Wednesday, January 17th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.11.

Marathon Digital Stock Up 0.1 %

Shares of NASDAQ:MARA opened at $16.07 on Thursday. The firm has a market capitalization of $4.39 billion, a PE ratio of 19.13 and a beta of 5.38. The business has a 50 day simple moving average of $20.47 and a two-hundred day simple moving average of $18.07. Marathon Digital Holdings, Inc. has a 1 year low of $7.16 and a 1 year high of $34.09. The company has a debt-to-equity ratio of 0.20, a current ratio of 30.50 and a quick ratio of 30.51.

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 analysts’ consensus estimates of $0.05 by ($0.07). The business had revenue of $156.77 million for the quarter, compared to analysts’ expectations 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 analysts predict 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.