Marathon Digital (NASDAQ:MARA) Shares Gap Up to $18.43

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $18.43, but opened at $19.42. Marathon Digital shares last traded at $18.56, with a volume of 9,435,036 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BTIG Research upgraded Marathon Digital from a "neutral" rating to a "buy" rating and set a $27.00 price target on the stock in a research report on Wednesday, January 17th. HC Wainwright restated a "buy" rating and issued a $35.00 price target on shares of Marathon Digital in a research report on Tuesday, March 19th. StockNews.com upgraded Marathon Digital from a "sell" rating to a "hold" rating in a research report on Friday, March 8th. Finally, Chardan Capital boosted their price target on Marathon Digital from $26.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $19.47.

Marathon Digital Price Performance

The stock has a fifty day simple moving average of $22.28 and a two-hundred day simple moving average of $17.07. The company has a market cap of $4.80 billion, a PE ratio of 21.37 and a beta of 5.37. The company has a current ratio of 30.50, a quick ratio of 30.51 and a debt-to-equity ratio of 0.20.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). The firm had revenue of $156.77 million for the quarter, compared to analysts' expectations of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. On average, equities analysts predict that Marathon Digital Holdings, Inc. will post 0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Marathon Digital

Several institutional investors have recently modified their holdings of MARA. Advisor Group Holdings Inc. boosted its stake in shares of 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 acquiring an additional 2,984 shares in the last quarter. Macquarie Group Ltd. lifted its stake 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 purchased a new stake in Marathon Digital in the 4th quarter valued at approximately $34,000. Cetera Advisors LLC purchased a new stake in Marathon Digital in the 4th quarter valued at approximately $36,000. Finally, Quantbot Technologies LP purchased a new stake in Marathon Digital in the 1st 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.