CloudAlpha Capital Management Limited Hong Kong Purchases New Shares in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 24,300 shares of the business services provider’s stock, valued at approximately $571,000.

A number of other hedge funds have also recently bought and sold shares of MARA. Bank of New York Mellon Corp increased its position in shares of Marathon Digital by 1.0% during the 1st quarter. Bank of New York Mellon Corp now owns 474,377 shares of the business services provider’s stock valued at $13,259,000 after purchasing an additional 4,843 shares during the last quarter. HighTower Advisors LLC increased its holdings in Marathon Digital by 17.6% in the 1st quarter. HighTower Advisors LLC now owns 57,486 shares of the business services provider’s stock worth $1,607,000 after acquiring an additional 8,588 shares during the last quarter. Private Advisor Group LLC raised its stake in Marathon Digital by 6.1% in the 1st quarter. Private Advisor Group LLC now owns 17,709 shares of the business services provider’s stock valued at $495,000 after acquiring an additional 1,015 shares during the period. MetLife Investment Management LLC raised its position in shares of Marathon Digital by 54.7% in the first quarter. MetLife Investment Management LLC now owns 52,851 shares of the business services provider’s stock valued at $1,477,000 after purchasing an additional 18,693 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Marathon Digital by 33.9% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,230 shares of the business services provider’s stock valued at $398,000 after buying an additional 3,601 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

Marathon Digital Trading Up 0.2 %

NASDAQ:MARA traded up $0.03 during trading hours on Wednesday, hitting $14.63. The company had a trading volume of 37,707,206 shares, compared to its average volume of 74,797,695. 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 Holdings, Inc. has a 52 week low of $7.16 and a 52 week high of $34.09. The company has a market capitalization of $3.92 billion, a PE ratio of 17.42 and a beta of 5.36. The stock has a 50-day moving average price of $22.18 and a 200 day moving average price of $17.36.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 48.93% and a negative return on equity of 4.61%. On average, equities research analysts predict that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MARA shares. HC Wainwright reissued a “buy” rating and set a $35.00 target price on shares of Marathon Digital in a report on Tuesday, March 19th. JPMorgan Chase & Co. increased their price objective on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. Chardan Capital upped their price objective on shares of Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. BTIG Research raised 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. Finally, StockNews.com downgraded shares of Marathon Digital from a “hold” rating to a “sell” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $21.11.

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.