Marathon Digital (NASDAQ:MARA) Trading Down 1.5%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price traded down 1.5% on Tuesday . The stock traded as low as $19.82 and last traded at $20.63. 16,994,119 shares were traded during mid-day trading, a decline of 79% from the average session volume of 82,734,539 shares. The stock had previously closed at $20.95.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. BTIG Research upgraded 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. StockNews.com raised shares of Marathon Digital from a “sell” rating to a “hold” rating in a research report on Friday, March 8th. HC Wainwright reissued a “buy” rating and issued a $35.00 price target on shares of Marathon Digital in a research report on Tuesday, March 19th. Finally, Chardan Capital raised their price target 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.47.

Marathon Digital Trading Up 8.3 %

The stock has a market capitalization of $5.91 billion, a PE ratio of 26.27 and a beta of 5.39. The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average is $21.73 and its two-hundred day moving average is $16.44.

Marathon Digital (NASDAQ:MARA) last announced 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). Marathon Digital had a net margin of 48.93% and a negative return on equity of 4.61%. The company had revenue of $156.77 million during the quarter, compared to analysts’ expectations of $138.15 million. On average, analysts anticipate that Marathon Digital Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MARA. Vanguard Group Inc. increased its stake 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 increased its stake 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 purchasing an additional 4,731,807 shares during the period. Renaissance Technologies LLC increased its stake in Marathon Digital by 297.0% in 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 purchasing an additional 1,224,300 shares during the period. Two Sigma Investments LP acquired a new position in Marathon Digital in the fourth quarter valued at $4,033,000. Finally, Geode Capital Management LLC increased its stake in Marathon Digital by 41.1% in the second quarter. Geode Capital Management LLC now owns 3,705,238 shares of the business services provider’s stock valued at $51,360,000 after purchasing an additional 1,080,124 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

About Marathon Digital

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.