Marathon Digital (NASDAQ:MARA) Stock Price Down 4.6%

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares traded down 4.6% during mid-day trading on Thursday . The stock traded as low as $17.51 and last traded at $18.22. 17,116,254 shares traded hands during trading, a decline of 76% from the average session volume of 72,671,820 shares. The stock had previously closed at $19.09.

Analyst Ratings Changes

MARA has been the topic of a number of recent research reports. StockNews.com raised shares of Marathon Digital from a “sell” rating to a “hold” rating in a report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of Marathon Digital in a report on Tuesday, March 19th. 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 research report on Wednesday, January 17th. JPMorgan Chase & Co. upped their target price on Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a report on Wednesday, April 10th. Finally, Chardan Capital upped their target price 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 assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $21.11.

Marathon Digital Stock Down 0.4 %

The company has a current ratio of 30.50, a quick ratio of 30.51 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $5.09 billion, a P/E ratio of 22.05 and a beta of 5.36. The business has a 50-day moving average price of $21.27 and a 200 day moving average price of $17.73.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $156.77 million for the quarter, compared to analysts’ expectations of $138.15 million. On average, equities analysts expect that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Trading of Marathon Digital

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Marathon Digital by 26.7% during the 4th quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock worth $551,395,000 after acquiring an additional 4,950,392 shares in the last quarter. Hel Ved Capital Management Ltd purchased a new position in shares of Marathon Digital in the 4th quarter worth about $11,531,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Marathon Digital by 29.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock worth $42,840,000 after acquiring an additional 410,146 shares during the period. Exchange Traded Concepts LLC raised its stake in Marathon Digital by 105.6% in the third quarter. Exchange Traded Concepts LLC now owns 697,498 shares of the business services provider’s stock valued at $5,929,000 after purchasing an additional 358,220 shares in the last quarter. Finally, Barclays PLC lifted its stake in Marathon Digital by 159.2% in the third quarter. Barclays PLC now owns 120,173 shares of the business services provider’s stock worth $1,021,000 after purchasing an additional 323,134 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.