Marathon Digital (NASDAQ:MARA) Stock Price Up 7.7%

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares rose 7.7% during mid-day trading on Tuesday . The company traded as high as $19.47 and last traded at $18.91. Approximately 27,857,472 shares traded hands during trading, a decline of 62% from the average daily volume of 73,246,164 shares. The stock had previously closed at $17.55.

Analysts Set New Price Targets

MARA has been the subject of a number of recent research reports. BTIG Research raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Wednesday, January 17th. Chardan Capital lifted their price objective on shares of Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, March 4th. StockNews.com upgraded Marathon Digital from a “sell” rating to a “hold” rating in a research report on Tuesday. 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. Finally, HC Wainwright reiterated a “buy” rating and set a $35.00 price target 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 assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $21.11.

Marathon Digital Stock Down 1.8 %

The firm has a market cap of $5.11 billion, a PE ratio of 22.73 and a beta of 5.36. The business’s 50 day moving average price is $21.27 and its 200 day moving average price is $17.73. 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 released 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). The company had revenue of $156.77 million for the quarter, compared to analysts’ expectations of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. On average, equities research analysts expect that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Marathon Digital

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Marathon Digital by 5.7% during the third quarter. Vanguard Group Inc. now owns 18,523,195 shares of the business services provider’s stock worth $157,447,000 after acquiring an additional 1,000,225 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Marathon Digital by 29.7% during the fourth 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 acquiring an additional 296,776 shares during the last quarter. L2 Asset Management LLC acquired a new position in Marathon Digital during the third quarter worth about $300,000. SG Americas Securities LLC grew its stake in shares of Marathon Digital by 203.9% in the 4th quarter. SG Americas Securities LLC now owns 266,176 shares of the business services provider’s stock valued at $6,252,000 after buying an additional 178,578 shares during the period. Finally, Global Retirement Partners LLC purchased a new stake in shares of Marathon Digital in the 4th quarter valued at approximately $200,000. 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.