Marathon Digital (NASDAQ:MARA) PT Lowered to $18.00 at B. Riley

Marathon Digital (NASDAQ:MARA) had its target price lowered by B. Riley from $19.00 to $18.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. B. Riley’s price objective would suggest a potential upside of 1.93% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. 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. StockNews.com cut shares of Marathon Digital from a “hold” rating to a “sell” rating in a research note on Thursday. HC Wainwright restated a “buy” rating and set a $35.00 price target on shares of Marathon Digital in a research note on Tuesday, March 19th. JPMorgan Chase & Co. raised their price target on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research note on Wednesday, April 10th. Finally, Chardan Capital cut their price target on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.83.

Marathon Digital Stock Down 10.1 %

Shares of MARA traded down $1.99 during mid-day trading on Friday, reaching $17.66. The company’s stock had a trading volume of 43,608,548 shares, compared to its average volume of 70,028,922. 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 has a 1 year low of $7.16 and a 1 year high of $34.09. The business has a fifty day moving average of $19.48 and a 200 day moving average of $18.47. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 21.12 and a beta of 5.38.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing the consensus estimate 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%. As a group, analysts forecast that Marathon Digital will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marathon Digital

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in 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 worth $551,395,000 after purchasing an additional 4,950,392 shares in the last quarter. Hel Ved Capital Management Ltd purchased a new stake in shares of Marathon Digital in the 4th quarter worth approximately $11,531,000. Charles Schwab Investment Management Inc. grew its stake in shares of Marathon Digital by 29.0% in 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 last quarter. Barclays PLC boosted 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 valued at $1,021,000 after purchasing an additional 323,134 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake 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 valued at $30,429,000 after purchasing an additional 296,776 shares during the last quarter. 44.53% of the stock is owned by 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.