Marathon Digital (NASDAQ:MARA) Trading 3% Higher

Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded up 3% during mid-day trading on Friday . The stock traded as high as $15.70 and last traded at $15.48. 12,655,958 shares were traded during trading, a decline of 83% from the average session volume of 73,479,305 shares. The stock had previously closed at $15.03.

Analyst Upgrades and Downgrades

MARA has been the subject of a number of research reports. StockNews.com cut shares of Marathon Digital from a “hold” rating to a “sell” rating in a report on Monday, April 15th. BTIG Research upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, January 17th. 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 upped their price target on Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Marathon Digital presently has a consensus rating of “Hold” and a consensus target price of $21.11.

Marathon Digital Price Performance

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 stock has a 50 day simple moving average of $21.79 and a 200-day simple moving average of $17.43. The firm has a market cap of $4.42 billion, a PE ratio of 19.64 and a beta of 5.36.

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. Equities analysts anticipate that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marathon Digital

Several institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Group Holdings Inc. grew its stake in 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 valued at $25,000 after acquiring an additional 2,984 shares in the last quarter. Macquarie Group Ltd. grew 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 purchasing an additional 2,641 shares in the last quarter. Smith Anglin Financial LLC bought a new stake in shares of Marathon Digital in the fourth quarter worth about $34,000. Cetera Advisors LLC purchased a new stake in shares of Marathon Digital in the fourth quarter worth about $36,000. Finally, Quantbot Technologies LP bought a new position in Marathon Digital during the first quarter valued at approximately $37,000. Institutional investors own 44.53% of the company’s stock.

About Marathon Digital

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.