Marathon Digital (NASDAQ:MARA) Shares Gap Down to $19.09

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) gapped down prior to trading on Thursday . The stock had previously closed at $19.09, but opened at $17.92. Marathon Digital shares last traded at $18.63, with a volume of 13,688,526 shares.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MARA shares. Chardan Capital raised their price target on Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. lifted their target price on Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a research report on Wednesday, April 10th. BTIG Research upgraded 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. StockNews.com upgraded Marathon Digital from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, HC Wainwright restated a “buy” rating and issued 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 issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.11.

Marathon Digital Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 30.50 and a quick ratio of 30.51. The company has a market capitalization of $5.09 billion, a PE ratio of 22.05 and a beta of 5.36. The business has a 50-day moving average of $21.27 and a 200 day moving average of $17.73.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $156.77 million during the quarter, compared to analysts’ expectations of $138.15 million. Equities research analysts predict that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current year.

Institutional Investors Weigh In On Marathon Digital

Several large investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its stake in shares of Marathon Digital by 752.3% during the fourth quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock valued at $39,000 after buying an additional 1,467 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Marathon Digital during the 4th quarter valued at $61,000. GAMMA Investing LLC purchased a new stake in shares of Marathon Digital during the 4th quarter valued at $75,000. IFP Advisors Inc lifted its holdings in shares of Marathon Digital by 48.2% during the 3rd quarter. IFP Advisors Inc now owns 9,272 shares of the business services provider’s stock valued at $79,000 after purchasing an additional 3,017 shares during the last quarter. Finally, Xponance Inc. purchased a new stake in shares of Marathon Digital during the 3rd quarter valued at $86,000. 44.53% of the stock is owned by institutional investors.

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.