Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Purchased by Spire Wealth Management

Spire Wealth Management boosted its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 77.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,863 shares of the business services provider’s stock after acquiring an additional 9,989 shares during the quarter. Spire Wealth Management’s holdings in Marathon Digital were worth $516,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its position in shares of Marathon Digital by 7.7% during the 1st quarter. Global Retirement Partners LLC now owns 9,152 shares of the business services provider’s stock valued at $207,000 after purchasing an additional 658 shares during the period. Intrepid Financial Planning Group LLC increased its position in shares of Marathon Digital by 4.1% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider’s stock valued at $555,000 after purchasing an additional 930 shares during the period. Arizona State Retirement System increased its position in shares of Marathon Digital by 3.0% during the 3rd quarter. Arizona State Retirement System now owns 48,395 shares of the business services provider’s stock valued at $411,000 after purchasing an additional 1,419 shares during the period. Versant Capital Management Inc increased its position in shares of Marathon Digital by 752.3% during the 4th quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 1,467 shares during the period. Finally, CWM LLC increased its position in shares of Marathon Digital by 62.5% during the 4th quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 1,754 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Marathon Digital Stock Down 4.3 %

NASDAQ MARA traded down $0.97 on Tuesday, reaching $21.35. The stock had a trading volume of 44,876,629 shares, compared to its average volume of 68,307,383. The business has a 50 day moving average price of $18.91 and a 200 day moving average price of $19.17. The company has a current ratio of 23.07, a quick ratio of 23.07 and a debt-to-equity ratio of 0.13. Marathon Digital Holdings, Inc. has a 1 year low of $7.16 and a 1 year high of $34.09. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of 9.93 and a beta of 5.38.

Marathon Digital (NASDAQ:MARA) last issued 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). Marathon Digital had a net margin of 106.46% and a negative return on equity of 3.80%. The firm had revenue of $156.77 million during the quarter, compared to analysts’ expectations of $138.15 million. On average, analysts forecast that Marathon Digital Holdings, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com cut Marathon Digital from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. raised their price objective on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research note on Wednesday, April 10th. Chardan Capital reduced their price objective on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. HC Wainwright reduced their price objective on Marathon Digital from $35.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, B. Riley decreased their target price on Marathon Digital from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.69.

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.