Marathon Digital (NASDAQ:MARA) Stock Price Up 3%

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares shot up 3% during trading on Friday . The company 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.

Wall Street Analyst Weigh In

MARA has been the subject of several analyst reports. Chardan Capital boosted their target price on shares of Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. StockNews.com lowered shares of Marathon Digital from a “hold” rating to a “sell” rating in a research report on Monday. JPMorgan Chase & Co. raised their target price on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, January 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Marathon Digital in a research report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.11.

Marathon Digital Stock Up 10.6 %

The stock has a fifty day moving average of $22.07 and a two-hundred day moving average of $17.39. 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 stock has a market cap of $4.45 billion, a price-to-earnings ratio of 18.92 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 for the quarter, missing the consensus estimate of $0.05 by ($0.07). Marathon Digital had a net margin of 48.93% and a negative return on equity of 4.61%. The firm had revenue of $156.77 million during the quarter, compared to analyst estimates of $138.15 million. As a group, analysts predict that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Trading of Marathon Digital

Large investors have recently added to or reduced their stakes in the stock. Diversified Trust Co lifted its stake in shares of Marathon Digital by 27.4% during the first quarter. Diversified Trust Co now owns 38,355 shares of the business services provider’s stock worth $866,000 after purchasing an additional 8,255 shares in the last quarter. SteelPeak Wealth LLC purchased a new stake in shares of Marathon Digital during the 1st quarter valued at about $624,000. Pasadena Private Wealth LLC lifted its position in Marathon Digital by 25.2% during the 1st quarter. Pasadena Private Wealth LLC now owns 12,609 shares of the business services provider’s stock worth $285,000 after acquiring an additional 2,537 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Marathon Digital by 91.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 52,624 shares of the business services provider’s stock worth $1,188,000 after acquiring an additional 25,205 shares during the period. Finally, Vanguard Group Inc. grew its position in 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 acquiring an additional 4,950,392 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.