Handelsbanken Fonder AB Raises Stock Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Handelsbanken Fonder AB lifted its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 38.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,200 shares of the business services provider’s stock after acquiring an additional 7,900 shares during the period. Handelsbanken Fonder AB’s holdings in Marathon Digital were worth $662,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. AE Wealth Management LLC grew its position in Marathon Digital by 36.8% during the 3rd quarter. AE Wealth Management LLC now owns 54,037 shares of the business services provider’s stock worth $459,000 after purchasing an additional 14,522 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Marathon Digital by 48.2% during the third quarter. IFP Advisors Inc now owns 9,272 shares of the business services provider’s stock worth $79,000 after buying an additional 3,017 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position in Marathon Digital by 2.7% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 83,661 shares of the business services provider’s stock valued at $711,000 after acquiring an additional 2,181 shares during the period. Xponance Inc. purchased a new stake in Marathon Digital during the 3rd quarter valued at approximately $86,000. Finally, FinTrust Capital Advisors LLC lifted its position in Marathon Digital by 52.9% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 13,000 shares of the business services provider’s stock worth $110,000 after acquiring an additional 4,500 shares during the period. 44.53% of the stock is owned by institutional investors and hedge funds.

Marathon Digital Price Performance

Shares of NASDAQ:MARA opened at $18.03 on Tuesday. Marathon Digital Holdings, Inc. has a 12 month low of $7.16 and a 12 month high of $34.09. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 21.46 and a beta of 5.37. The business’s 50 day simple moving average is $20.78 and its 200-day simple moving average is $18.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 30.50 and a quick ratio of 30.51.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.07). The firm had revenue of $156.77 million during the quarter, compared to analyst estimates of $138.15 million. Marathon Digital had a net margin of 48.93% and a negative return on equity of 4.61%. As a group, equities analysts forecast that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on MARA. StockNews.com upgraded Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Chardan Capital raised their target price on shares of Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of Marathon Digital in a report on Tuesday, March 19th. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. lifted their price target on Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Marathon Digital has an average rating of “Hold” and an average price target of $21.11.

Marathon Digital 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.