Marathon Digital (NASDAQ:MARA) Stock Price Up 2.3%

Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Free Report)’s stock price shot up 2.3% during mid-day trading on Friday . The stock traded as high as $24.65 and last traded at $22.58. 86,137,132 shares were traded during mid-day trading, an increase of 22% from the average session volume of 70,549,736 shares. The stock had previously closed at $22.07.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MARA. BTIG Research upgraded 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. upgraded shares of Marathon Digital from a “sell” rating to a “hold” rating in a research report on Friday, March 8th. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of Marathon Digital in a research report on Tuesday, March 19th. Finally, Chardan Capital boosted their price objective on shares of Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. One 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. Based on data from, the stock presently has a consensus rating of “Hold” and an average price target of $19.47.

View Our Latest Research Report on Marathon Digital

Marathon Digital Stock Up 2.3 %

The company has a debt-to-equity ratio of 0.20, a quick ratio of 30.51 and a current ratio of 30.50. The company has a market capitalization of $6.04 billion, a PE ratio of 26.88 and a beta of 5.39. The company’s fifty day moving average is $21.99 and its 200-day moving average is $16.61.

Marathon Digital (NASDAQ:MARAGet Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (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. As a group, analysts predict that Marathon Digital Holdings, Inc. will post 0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Marathon Digital

A number of institutional investors and hedge funds have recently bought and sold shares of MARA. Advisor Group Holdings Inc. grew its position in shares of Marathon Digital by 68.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 7,353 shares of the business services provider’s stock worth $25,000 after purchasing an additional 2,984 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Marathon Digital by 96.8% during the second quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider’s stock valued at $29,000 after buying an additional 2,641 shares during the last quarter. Smith Anglin Financial LLC purchased a new position in shares of Marathon Digital in the fourth quarter worth $34,000. Cetera Advisors LLC bought a new position in shares of Marathon Digital during the fourth quarter worth $36,000. Finally, Quantbot Technologies LP purchased a new position in Marathon Digital during the first quarter valued at $37,000. 44.53% of the stock is owned by institutional investors.

Marathon Digital Company Profile

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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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