Van ECK Associates Corp Boosts Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Van ECK Associates Corp increased its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 22.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 659,783 shares of the business services provider’s stock after purchasing an additional 119,470 shares during the period. Van ECK Associates Corp owned approximately 0.30% of Marathon Digital worth $15,499,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MARA. Avaii Wealth Management LLC purchased a new stake in Marathon Digital during the fourth quarter valued at about $473,000. State of New Jersey Common Pension Fund D boosted its holdings in Marathon Digital by 9.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 202,141 shares of the business services provider’s stock valued at $4,748,000 after acquiring an additional 16,663 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Marathon Digital during the 4th quarter worth approximately $61,000. GAMMA Investing LLC purchased a new position in Marathon Digital in the 4th quarter worth approximately $75,000. Finally, New York State Common Retirement Fund lifted its position in Marathon Digital by 26.6% in the fourth quarter. New York State Common Retirement Fund now owns 89,887 shares of the business services provider’s stock valued at $2,111,000 after purchasing an additional 18,890 shares during the last quarter. Institutional investors own 44.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MARA. BTIG Research raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, January 17th. StockNews.com raised shares of Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. raised their target price on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research note on Wednesday, April 10th. 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. Finally, Chardan Capital lifted their price objective on Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a research 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’s stock. Based on data from MarketBeat, Marathon Digital currently has a consensus rating of “Hold” and an average target price of $21.11.

Marathon Digital Trading Up 0.1 %

MARA opened at $16.07 on Thursday. The stock has a market cap of $4.39 billion, a PE ratio of 19.13 and a beta of 5.38. The business has a 50 day moving average of $20.47 and a 200-day moving average of $18.07. Marathon Digital Holdings, Inc. has a 52 week low of $7.16 and a 52 week high of $34.09. The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). The firm had revenue of $156.77 million for the quarter, compared to analysts’ expectations of $138.15 million. Marathon Digital had a net margin of 48.93% and a negative return on equity of 4.61%. Equities research analysts predict that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current fiscal 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.