Marathon Digital (NASDAQ:MARA) Downgraded by StockNews.com

Marathon Digital (NASDAQ:MARA) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Several other analysts have also recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of Marathon Digital in a research report on Tuesday, March 19th. Chardan Capital dropped their price target on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday. 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. Finally, JPMorgan Chase & Co. increased their price target on Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.83.

Marathon Digital Price Performance

Shares of NASDAQ:MARA traded down $0.44 during trading on Thursday, hitting $19.65. 44,802,313 shares of the company’s stock were exchanged, compared to its average volume of 70,332,266. The company has a debt-to-equity ratio of 0.20, a current ratio of 30.50 and a quick ratio of 30.51. Marathon Digital has a 52-week low of $7.16 and a 52-week high of $34.09. The business’s 50-day simple moving average is $19.48 and its 200 day simple moving average is $18.47. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 23.39 and a beta of 5.38.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $156.77 million for the quarter, compared to analysts’ expectations of $138.15 million. As a group, equities analysts predict that Marathon Digital will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Marathon Digital

Several institutional investors have recently modified their holdings of MARA. Versant Capital Management Inc lifted its stake in shares of Marathon Digital by 752.3% in the 4th quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 1,467 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Marathon Digital in the 4th quarter valued at approximately $61,000. GAMMA Investing LLC bought a new stake in shares of Marathon Digital in the 4th quarter valued at approximately $75,000. Xponance Inc. bought a new stake in shares of Marathon Digital in the 3rd quarter valued at approximately $86,000. Finally, FinTrust Capital Advisors LLC bought a new stake in shares of Marathon Digital in the 1st quarter valued at approximately $90,000. 44.53% of the stock is 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.