Marathon Digital (NASDAQ:MARA) Trading Down 1.5%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price dropped 1.5% during mid-day trading on Friday . The stock traded as low as $18.67 and last traded at $18.73. Approximately 19,870,197 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 72,256,117 shares. The stock had previously closed at $19.01.

Analysts Set New Price Targets

MARA has been the topic of several research reports. Chardan Capital raised 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. StockNews.com raised Marathon Digital from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Wednesday, January 17th. JPMorgan Chase & Co. raised their target price on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of Marathon Digital in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $21.11.

Marathon Digital Trading Up 2.2 %

The stock has a fifty day moving average of $20.96 and a 200 day moving average of $17.88. 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 $5.20 billion, a PE ratio of 23.13 and a beta of 5.36.

Marathon Digital (NASDAQ:MARA) last released 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). The firm had revenue of $156.77 million during the quarter, compared to the consensus estimate of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. As a group, sell-side analysts predict that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Marathon Digital by 26.7% in the 4th quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock worth $551,395,000 after buying an additional 4,950,392 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Marathon Digital by 29.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock worth $42,840,000 after buying an additional 410,146 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Marathon Digital by 29.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock worth $30,429,000 after buying an additional 296,776 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Marathon Digital by 13.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 793,444 shares of the business services provider’s stock worth $18,638,000 after buying an additional 95,946 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Marathon Digital by 22.1% in the 4th quarter. Van ECK Associates Corp now owns 659,783 shares of the business services provider’s stock worth $15,499,000 after buying an additional 119,470 shares during the period. 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.