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

StockNews.com downgraded shares of Marathon Digital (NASDAQ:MARA) from a hold rating to a sell rating in a research note published on Monday morning.

A number of other equities research analysts also recently weighed in on the company. Chardan Capital boosted their target price on Marathon Digital from $26.00 to $30.00 and gave the stock a neutral rating in a research report on Monday, March 4th. BTIG Research upgraded Marathon Digital from a neutral rating to a buy rating and set a $27.00 target price for the company in a research report on Wednesday, January 17th. JPMorgan Chase & Co. upped their price objective 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 reiterated a buy rating and issued a $35.00 price objective on shares of Marathon Digital in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $21.11.

Marathon Digital Price Performance

Marathon Digital stock opened at $15.15 on Monday. 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 firm has a market cap of $4.05 billion, a P/E ratio of 18.04 and a beta of 5.37. The business’s fifty day moving average is $22.18 and its two-hundred day moving average is $17.36. Marathon Digital has a 52 week low of $7.16 and a 52 week high of $34.09.

Marathon Digital (NASDAQ:MARA) last posted 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). The business had revenue of $156.77 million during the quarter, compared to analyst estimates of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. Equities research analysts forecast that Marathon Digital will post 0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marathon Digital

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Marathon Digital by 26.7% in the fourth quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock worth $551,395,000 after acquiring an additional 4,950,392 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Marathon Digital by 6.0% in the third quarter. BlackRock Inc. now owns 7,785,906 shares of the business services provider’s stock worth $83,387,000 after acquiring an additional 439,850 shares in the last quarter. Morgan Stanley increased its holdings in shares of Marathon Digital by 208.7% in the third quarter. Morgan Stanley now owns 6,999,580 shares of the business services provider’s stock worth $59,496,000 after acquiring an additional 4,731,807 shares in the last quarter. State Street Corp increased its holdings in shares of Marathon Digital by 11.2% in the third quarter. State Street Corp now owns 2,682,614 shares of the business services provider’s stock worth $28,731,000 after acquiring an additional 269,351 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Marathon Digital by 9.3% in the first quarter. Geode Capital Management LLC now owns 2,625,114 shares of the business services provider’s stock worth $22,896,000 after acquiring an additional 224,445 shares in the last quarter. 44.53% of the stock is currently 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.