Marathon Digital (NASDAQ:MARA) Shares Gap Up to $17.52

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price gapped up prior to trading on Monday . The stock had previously closed at $17.52, but opened at $18.44. Marathon Digital shares last traded at $19.74, with a volume of 18,407,222 shares trading hands.

Analyst Ratings Changes

A number of research firms recently commented on MARA. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of Marathon Digital in a research note on Tuesday, March 19th. BTIG Research raised shares of 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. StockNews.com raised Marathon Digital from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Chardan Capital upped their price objective on shares of Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Finally, JPMorgan Chase & Co. upped their price target on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Marathon Digital currently has an average rating of “Hold” and an average target price of $21.11.

Marathon Digital Stock Performance

The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $20.19 and a two-hundred day moving average price of $18.27. The firm has a market cap of $5.64 billion, a PE ratio of 23.20 and a beta of 5.38.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share 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 analyst estimates of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. Research analysts forecast that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Trading of Marathon Digital

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Marathon Digital by 26.7% during the 4th quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock valued at $551,395,000 after acquiring an additional 4,950,392 shares during the last quarter. Hel Ved Capital Management Ltd acquired a new position in shares of Marathon Digital in the 4th quarter worth approximately $11,531,000. Charles Schwab Investment Management Inc. increased its stake in Marathon Digital by 29.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock worth $42,840,000 after buying an additional 410,146 shares during the period. Barclays PLC grew its stake in Marathon Digital by 159.2% during the 3rd quarter. Barclays PLC now owns 120,173 shares of the business services provider’s stock worth $1,021,000 after purchasing an additional 323,134 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Marathon Digital by 29.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock worth $30,429,000 after purchasing an additional 296,776 shares during the period. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

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.