Marathon Digital (NASDAQ:MARA) Stock Price Up 3.6%

Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Free Report) shares traded up 3.6% during trading on Wednesday . The stock traded as high as $19.19 and last traded at $18.72. 18,725,600 shares changed hands during trading, a decline of 73% from the average session volume of 68,777,547 shares. The stock had previously closed at $18.07.

Analyst Ratings Changes

Several equities research analysts have issued reports on MARA shares. HC Wainwright lowered their price target on shares of Marathon Digital from $35.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. B. Riley lowered their target price on Marathon Digital from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Needham & Company LLC reissued a “hold” rating on shares of Marathon Digital in a research report on Friday, May 10th. Chardan Capital lowered their price target on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Finally, StockNews.com downgraded Marathon Digital from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $19.69.

Check Out Our Latest Research Report on Marathon Digital

Marathon Digital Price Performance

The company has a quick ratio of 23.07, a current ratio of 23.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $5.51 billion, a P/E ratio of 9.40 and a beta of 5.38. The business has a fifty day moving average of $19.03 and a 200 day moving average of $18.77.

Marathon Digital (NASDAQ:MARAGet Free Report) last posted its quarterly earnings results 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 3.80% and a net margin of 106.46%. The business had revenue of $156.77 million for the quarter, compared to the consensus estimate of $138.15 million. On average, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On Marathon Digital

A number of institutional investors have recently made changes to their positions in MARA. Beaird Harris Wealth Management LLC boosted its holdings in shares of Marathon Digital by 121.1% during the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after acquiring an additional 695 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Marathon Digital by 752.3% during the fourth quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock worth $39,000 after acquiring an additional 1,467 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Marathon Digital during the fourth quarter worth approximately $61,000. GAMMA Investing LLC bought a new stake in shares of Marathon Digital during the fourth quarter worth approximately $75,000. Finally, FinTrust Capital Advisors LLC bought a new stake in shares of Marathon Digital during the first quarter worth approximately $90,000. Institutional investors own 44.53% of the company’s stock.

About Marathon Digital

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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.

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