Marathon Digital (NASDAQ:MARA) Shares Down 2.1%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price traded down 2.1% during trading on Wednesday . The company traded as low as $15.67 and last traded at $15.72. 13,767,422 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 71,061,828 shares. The stock had previously closed at $16.06.

Analyst Upgrades and Downgrades

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

Marathon Digital Stock Up 2.6 %

The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 20.86 and a beta of 5.38. The business’s 50-day moving average is $20.19 and its 200-day moving average is $18.13. 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 posted its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $138.15 million. On average, equities analysts predict that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current year.

Institutional Trading of Marathon Digital

Several large investors have recently made changes to their positions in MARA. Xponance Inc. bought a new stake in Marathon Digital during the 3rd quarter worth about $86,000. FinTrust Capital Advisors LLC raised its position in Marathon Digital by 52.9% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 13,000 shares of the business services provider’s stock worth $110,000 after purchasing an additional 4,500 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Marathon Digital by 4.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 618,550 shares of the business services provider’s stock worth $5,258,000 after buying an additional 27,350 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Marathon Digital by 17.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,720 shares of the business services provider’s stock valued at $236,000 after buying an additional 4,088 shares during the last quarter. Finally, Financial Advocates Investment Management increased its stake in shares of Marathon Digital by 8.4% in the 3rd quarter. Financial Advocates Investment Management now owns 25,769 shares of the business services provider’s stock valued at $219,000 after buying an additional 2,000 shares during the period. Institutional investors own 44.53% of the company’s stock.

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.