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

StockNews.com cut shares of Marathon Digital (NASDAQ:MARA) from a hold rating to a sell rating in a research report report published on Monday.

MARA has been the subject of a number of other reports. 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 research note on Wednesday, January 17th. Chardan Capital boosted their price objective on shares of Marathon Digital from $26.00 to $30.00 and gave the company a neutral rating in a report on Monday, March 4th. HC Wainwright reiterated a buy rating and set a $35.00 price target on shares of Marathon Digital in a research note on Tuesday, March 19th. Finally, 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. Two investment analysts have rated the stock with a sell rating, four 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 an average target price of $21.11.

Marathon Digital Stock Up 2.7 %

Shares of Marathon Digital stock opened at $15.03 on Monday. The firm’s 50-day moving average is $22.07 and its two-hundred day moving average is $17.39. 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 has a 1 year low of $7.16 and a 1 year high of $34.09. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 17.89 and a beta of 5.36.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $156.77 million during the quarter, compared to analysts’ expectations of $138.15 million. As a group, research analysts expect that Marathon Digital will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

Hedge funds have recently bought and sold shares of the business. Advisor Group Holdings Inc. raised its holdings in shares of Marathon Digital by 68.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 7,353 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 2,984 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of Marathon Digital by 96.8% during the second quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 2,641 shares during the last quarter. Smith Anglin Financial LLC acquired a new position in shares of Marathon Digital during the fourth quarter valued at approximately $34,000. Cetera Advisors LLC acquired a new position in shares of Marathon Digital during the fourth quarter valued at approximately $36,000. Finally, Quantbot Technologies LP acquired a new position in shares of Marathon Digital during the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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.