Avaii Wealth Management LLC Makes New $473,000 Investment in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Avaii Wealth Management LLC purchased a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,147 shares of the business services provider’s stock, valued at approximately $473,000.

Several other large investors also recently bought and sold shares of the stock. Versant Capital Management Inc increased its holdings in shares of Marathon Digital by 752.3% in the 4th quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 1,467 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Marathon Digital during the 4th quarter worth approximately $61,000. GAMMA Investing LLC acquired a new stake in Marathon Digital during the 4th quarter worth approximately $75,000. IFP Advisors Inc lifted its holdings in shares of Marathon Digital by 48.2% in the 3rd quarter. IFP Advisors Inc now owns 9,272 shares of the business services provider’s stock valued at $79,000 after buying an additional 3,017 shares during the period. Finally, Xponance Inc. acquired a new stake in shares of Marathon Digital in the 3rd quarter valued at approximately $86,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Analysts Set New Price Targets

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

Marathon Digital Trading Down 4.4 %

Marathon Digital stock traded down $0.86 during midday trading on Monday, reaching $18.57. The stock had a trading volume of 25,623,472 shares, compared to its average volume of 71,934,477. The stock’s 50-day simple moving average is $20.96 and its 200 day simple moving average is $17.95. The stock has a market capitalization of $4.97 billion, a PE ratio of 21.96 and a beta of 5.37. Marathon Digital Holdings, Inc. has a twelve month low of $7.16 and a twelve month high of $34.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 30.51 and a current ratio of 30.50.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data 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 analyst estimates of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. Analysts expect that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current year.

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.