Marathon Digital (NASDAQ:MARA) Stock Price Down 1.5%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price fell 1.5% during trading on Wednesday . The company traded as low as $18.67 and last traded at $19.14. 22,311,228 shares traded hands during trading, a decline of 69% from the average session volume of 73,061,250 shares. The stock had previously closed at $19.44.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. StockNews.com raised shares of Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday. 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 report on Wednesday, January 17th. Chardan Capital lifted their price objective 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. HC Wainwright restated a “buy” rating and issued a $35.00 price target on shares of Marathon Digital in a report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $21.11.

Marathon Digital Stock Performance

The stock’s 50 day moving average is $21.47 and its two-hundred day moving average is $17.72. 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 $5.11 billion, a price-to-earnings ratio of 22.73 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) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). The firm had revenue of $156.77 million during the quarter, compared to analyst estimates of $138.15 million. Marathon Digital had a net margin of 48.93% and a negative return on equity of 4.61%. Analysts expect that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc boosted its holdings in shares of Marathon Digital by 752.3% in the 4th quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock valued at $39,000 after buying an additional 1,467 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Marathon Digital in the 4th quarter valued at about $61,000. GAMMA Investing LLC bought a new position in Marathon Digital during the 4th quarter worth $75,000. CWM LLC increased its position in Marathon Digital by 62.5% in the 4th quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock worth $107,000 after purchasing an additional 1,754 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in Marathon Digital during the 4th quarter valued at $200,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.