Marathon Digital (NASDAQ:MARA) Earns “Hold” Rating from Needham & Company LLC

Marathon Digital (NASDAQ:MARA)‘s stock had its “hold” rating reiterated by investment analysts at Needham & Company LLC in a research note issued on Friday, Benzinga reports.

A number of other brokerages also recently commented on MARA. BTIG Research raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, January 17th. JPMorgan Chase & Co. boosted their price target on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. Chardan Capital cut their price objective on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of Marathon Digital in a research note on Tuesday, March 19th. Finally, StockNews.com cut Marathon Digital from a “hold” rating to a “sell” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.83.

Marathon Digital Price Performance

Marathon Digital stock opened at $19.65 on Friday. The company has a current ratio of 30.50, a quick ratio of 30.51 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $5.36 billion, a P/E ratio of 23.39 and a beta of 5.38. The business has a 50-day moving average of $19.48 and a 200-day moving average of $18.47. Marathon Digital has a 1 year low of $7.16 and a 1 year high of $34.09.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share 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 the consensus estimate of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. On average, equities analysts anticipate that Marathon Digital will post -0.04 EPS for the current year.

Institutional Trading of Marathon Digital

Several institutional investors have recently added to or reduced their stakes in MARA. Global Retirement Partners LLC lifted 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 buying an additional 658 shares in the last quarter. Intrepid Financial Planning Group LLC increased its position in Marathon Digital by 4.1% during the fourth quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider’s stock worth $555,000 after acquiring an additional 930 shares during the period. Arizona State Retirement System raised its stake in Marathon Digital by 3.0% in the 3rd quarter. Arizona State Retirement System now owns 48,395 shares of the business services provider’s stock worth $411,000 after purchasing an additional 1,419 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Marathon Digital by 2.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 70,974 shares of the business services provider’s stock valued at $1,603,000 after purchasing an additional 1,430 shares during the period. Finally, Versant Capital Management Inc grew its position 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 purchasing an additional 1,467 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors.

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.