Marathon Digital (NASDAQ:MARA) Lowered to Sell at StockNews.com

Marathon Digital (NASDAQ:MARA) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Several other research analysts have also recently issued reports on the stock. BTIG Research raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a report on Wednesday, January 17th. HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Marathon Digital in a report on Tuesday, March 19th. Chardan Capital raised their target price on Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. boosted 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. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.11.

Marathon Digital Trading Down 6.0 %

MARA stock traded down $0.96 during mid-day trading on Monday, reaching $15.15. The company had a trading volume of 33,497,099 shares, compared to its average volume of 75,849,578. The firm has a 50 day moving average of $22.18 and a 200 day moving average of $17.36. Marathon Digital has a 12 month low of $7.16 and a 12 month high of $34.09. The company has a market capitalization of $4.05 billion, a PE ratio of 18.04 and a beta of 5.37. 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 (NASDAQ:MARA) last issued its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The business had revenue of $156.77 million for the quarter, compared to analysts’ expectations of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. On average, equities analysts predict that Marathon Digital will post 0.02 earnings per share for the current fiscal year.

Institutional Trading of Marathon Digital

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Marathon Digital by 26.7% in the fourth quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock valued at $551,395,000 after purchasing an additional 4,950,392 shares during the period. Morgan Stanley lifted its position in Marathon Digital by 208.7% in the third quarter. Morgan Stanley now owns 6,999,580 shares of the business services provider’s stock valued at $59,496,000 after buying an additional 4,731,807 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Marathon Digital by 297.0% during the second quarter. Renaissance Technologies LLC now owns 1,636,538 shares of the business services provider’s stock valued at $8,739,000 after acquiring an additional 1,224,300 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Marathon Digital in the 4th quarter valued at approximately $4,033,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Marathon Digital by 1,487.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,055,242 shares of the business services provider’s stock worth $24,789,000 after acquiring an additional 988,766 shares during the last quarter. Hedge funds and other 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.