Marathon Digital (NASDAQ:MARA) Shares Down 1.5%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price fell 1.5% during mid-day trading on Friday . The company traded as low as $18.67 and last traded at $18.73. 19,870,197 shares were traded during trading, a decline of 73% from the average session volume of 72,256,117 shares. The stock had previously closed at $19.01.

Wall Street Analyst Weigh In

MARA has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research note on Wednesday, April 10th. HC Wainwright reissued a “buy” rating and issued a $35.00 price target on shares of Marathon Digital in a report on Tuesday, March 19th. Chardan Capital upped their price target on shares of Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, January 17th. Finally, StockNews.com upgraded Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.11.

Marathon Digital Stock Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 30.50 and a quick ratio of 30.51. The company has a 50 day simple moving average of $21.11 and a 200-day simple moving average of $17.74. The firm has a market cap of $5.20 billion, a PE ratio of 22.30 and a beta of 5.36.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). The business had revenue of $156.77 million for the quarter, compared to the consensus estimate of $138.15 million. Marathon Digital had a net margin of 48.93% and a negative return on equity of 4.61%. As a group, equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Versant Capital Management Inc lifted its position in Marathon Digital by 752.3% in the fourth 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 last quarter. Harvest Fund Management Co. Ltd purchased a new position in Marathon Digital during the 4th quarter valued at about $61,000. GAMMA Investing LLC bought a new position in Marathon Digital during the 4th quarter valued at approximately $75,000. IFP Advisors Inc lifted its holdings in Marathon Digital by 48.2% in the 3rd quarter. IFP Advisors Inc now owns 9,272 shares of the business services provider’s stock worth $79,000 after buying an additional 3,017 shares during the period. Finally, Xponance Inc. bought a new stake in shares of Marathon Digital in the 3rd quarter worth approximately $86,000. 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.