Marathon Digital (NASDAQ:MARA) Stock Price Up 1.9%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price rose 1.9% on Friday . The stock traded as high as $18.21 and last traded at $17.39. Approximately 19,934,030 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 70,335,031 shares. The stock had previously closed at $17.07.

Analysts Set New Price Targets

A number of research firms have issued reports on MARA. Chardan Capital raised their price target on shares of 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 shares of 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. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price target on shares of Marathon Digital in a research report on Tuesday, March 19th. 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 note on Wednesday, April 10th. Finally, StockNews.com upgraded Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $21.11.

Marathon Digital Stock Performance

The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $20.19 and a two-hundred day moving average price of $18.19. The firm has a market cap of $4.78 billion, a PE ratio of 20.86 and a beta of 5.38.

Marathon Digital (NASDAQ:MARA) last announced 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 analyst estimates of $138.15 million. Research analysts forecast that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Trading of Marathon Digital

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position 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 valued at $551,395,000 after purchasing an additional 4,950,392 shares in the last quarter. Hel Ved Capital Management Ltd purchased a new stake in Marathon Digital in the 4th quarter valued at $11,531,000. Charles Schwab Investment Management Inc. increased its stake 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 acquiring an additional 410,146 shares during the last quarter. Barclays PLC raised its holdings in shares of Marathon Digital by 159.2% during the 3rd quarter. Barclays PLC now owns 120,173 shares of the business services provider’s stock worth $1,021,000 after acquiring an additional 323,134 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Marathon Digital by 29.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock valued at $30,429,000 after acquiring an additional 296,776 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

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.