Marathon Digital (NASDAQ:MARA) Shares Down 2.1%

Marathon Digital Holdings, Inc. (NASDAQ:MARA) was down 2.1% on Wednesday . The company traded as low as $15.67 and last traded at $15.72. Approximately 13,767,422 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 71,061,828 shares. The stock had previously closed at $16.06.

Analyst Upgrades and Downgrades

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

Marathon Digital Stock Up 2.6 %

The firm has a market capitalization of $4.78 billion, a PE ratio of 20.86 and a beta of 5.38. 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 50-day moving average of $20.19 and a two-hundred day moving average of $18.13.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. The firm had revenue of $156.77 million during the quarter, compared to analysts’ expectations of $138.15 million. On average, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Marathon Digital

Several institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc boosted its position in 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 during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Marathon Digital during the 4th quarter valued at about $61,000. GAMMA Investing LLC purchased a new stake in shares of Marathon Digital during the 4th quarter valued at about $75,000. Xponance Inc. acquired a new position in Marathon Digital during the 3rd quarter worth approximately $86,000. Finally, FinTrust Capital Advisors LLC acquired a new stake in Marathon Digital in the first quarter valued at approximately $90,000. 44.53% of the stock is currently owned by hedge funds and other 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.