Marathon Digital (NASDAQ:MARA) Upgraded by StockNews.com to Hold

Marathon Digital (NASDAQ:MARA) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

Other analysts have also issued research reports about the company. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Wednesday, January 17th. JPMorgan Chase & Co. raised their price target on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research note on Wednesday, April 10th. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price target on shares of Marathon Digital in a research note on Tuesday, March 19th. Finally, Chardan Capital raised their price target on Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $21.11.

Marathon Digital Trading Up 10.8 %

Shares of NASDAQ:MARA traded up $1.89 during trading on Tuesday, reaching $19.44. 60,959,593 shares of the company traded hands, compared to its average volume of 73,745,641. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 23.14 and a beta of 5.37. Marathon Digital has a 52-week low of $7.16 and a 52-week high of $34.09. 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 business’s fifty day moving average is $21.47 and its 200-day moving average is $17.72.

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 analysts’ consensus estimates of $0.05 by ($0.07). The company 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%. As a group, analysts forecast that Marathon Digital will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Marathon Digital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Marathon Digital by 5.7% during the third quarter. Vanguard Group Inc. now owns 18,523,195 shares of the business services provider’s stock valued at $157,447,000 after acquiring an additional 1,000,225 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Marathon Digital by 29.7% during the fourth 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 acquiring an additional 296,776 shares in the last quarter. L2 Asset Management LLC bought a new position in shares of Marathon Digital during the third quarter valued at $300,000. SG Americas Securities LLC increased its holdings in shares of Marathon Digital by 203.9% during the fourth quarter. SG Americas Securities LLC now owns 266,176 shares of the business services provider’s stock valued at $6,252,000 after acquiring an additional 178,578 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new position in shares of Marathon Digital during the fourth quarter valued at $200,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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.