Marathon Digital (NASDAQ:MARA) Stock Price Up 1.9%

Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded up 1.9% during trading on Friday . The stock traded as high as $18.21 and last traded at $17.39. 19,934,030 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 70,335,031 shares. The stock had previously closed at $17.07.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $35.00 price objective on shares of Marathon Digital in a report on Tuesday, March 19th. Chardan Capital lifted 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. 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 report on Wednesday, April 10th. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Wednesday, January 17th. Finally, StockNews.com raised Marathon Digital from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.11.

Marathon Digital Trading Up 2.6 %

The company has a debt-to-equity ratio of 0.20, a quick ratio of 30.51 and a current ratio of 30.50. The stock has a market capitalization of $4.78 billion, a PE ratio of 20.86 and a beta of 5.38. The stock has a 50-day moving average price of $20.19 and a two-hundred day moving average price of $18.13.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $138.15 million. As a group, equities analysts forecast that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MARA. Vanguard Group Inc. increased its stake in Marathon Digital by 26.7% in the 4th quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock worth $551,395,000 after acquiring an additional 4,950,392 shares during the last quarter. Hel Ved Capital Management Ltd bought a new stake in Marathon Digital in the 4th quarter worth approximately $11,531,000. Charles Schwab Investment Management Inc. increased its stake in Marathon Digital by 29.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock worth $42,840,000 after acquiring an additional 410,146 shares during the last quarter. Barclays PLC increased its position in shares of Marathon Digital by 159.2% during the 3rd quarter. Barclays PLC now owns 120,173 shares of the business services provider’s stock valued at $1,021,000 after purchasing an additional 323,134 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Marathon Digital by 29.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock valued at $30,429,000 after purchasing an additional 296,776 shares during the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.