Ninepoint Partners LP Acquires New Shares in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Ninepoint Partners LP bought a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 33,780 shares of the business services provider’s stock, valued at approximately $793,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisor Group Holdings Inc. lifted its holdings in Marathon Digital by 68.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 7,353 shares of the business services provider’s stock worth $25,000 after buying an additional 2,984 shares during the period. Macquarie Group Ltd. increased its position in Marathon Digital by 96.8% in the 2nd quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider’s stock valued at $29,000 after buying an additional 2,641 shares in the last quarter. Smith Anglin Financial LLC bought a new stake in Marathon Digital in the 4th quarter valued at about $34,000. Cetera Advisors LLC bought a new stake in Marathon Digital in the 4th quarter valued at about $36,000. Finally, Quantbot Technologies LP bought a new stake in Marathon Digital in the 1st quarter valued at about $37,000. 44.53% of the stock is owned by institutional investors and hedge funds.

Marathon Digital Stock Performance

Marathon Digital stock traded up $1.52 during trading on Friday, hitting $16.55. The stock had a trading volume of 32,445,847 shares, compared to its average volume of 73,756,078. Marathon Digital Holdings, Inc. has a 1 year low of $7.16 and a 1 year high of $34.09. 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 stock’s 50 day moving average is $22.07 and its two-hundred day moving average is $17.39. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 18.92 and a beta of 5.36.

Marathon Digital (NASDAQ:MARA) last issued 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 net margin of 48.93% and a negative return on equity of 4.61%. The business had revenue of $156.77 million for the quarter, compared to the consensus estimate of $138.15 million. As a group, analysts predict that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MARA. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Wednesday, January 17th. 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 report on Wednesday, April 10th. Chardan Capital boosted their price objective on Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Marathon Digital in a research note on Tuesday, March 19th. Finally, StockNews.com downgraded Marathon Digital from a “hold” rating to a “sell” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.11.

Marathon Digital 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.