Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $16.50, but opened at $17.15. Marathon Digital shares last traded at $16.46, with a volume of 23,519,130 shares trading hands.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Marathon Digital from $16.00 to $16.50 and gave the company an "underweight" rating in a report on Wednesday, April 10th. StockNews.com lowered Marathon Digital from a "hold" rating to a "sell" rating in a report on Monday, April 15th. HC Wainwright reaffirmed a "buy" rating and set a $35.00 target price on shares of Marathon Digital in a report on Tuesday, March 19th. 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 report on Wednesday, January 17th. Finally, Chardan Capital raised their target price on Marathon Digital from $26.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, March 4th. Two equities research 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. Based on data from MarketBeat, Marathon Digital has a consensus rating of "Hold" and an average price target of $21.11.
Check Out Our Latest Stock Analysis on Marathon Digital
Marathon Digital Stock Up 6.4 %
The company has a market cap of $4.70 billion, a PE ratio of 20.69 and a beta of 5.37. The business has a 50-day simple moving average of $21.79 and a 200-day simple moving average of $17.57. The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20.
Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its quarterly 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). The business 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%. Equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current year.
Hedge Funds Weigh In On Marathon Digital
A number of hedge funds have recently bought and sold shares of MARA. Vontobel Holding Ltd. lifted its position in shares of Marathon Digital by 280.6% in the third quarter. Vontobel Holding Ltd. now owns 41,546 shares of the business services provider's stock valued at $353,000 after acquiring an additional 30,631 shares in the last quarter. AE Wealth Management LLC lifted its position in shares of Marathon Digital by 36.8% in the third quarter. AE Wealth Management LLC now owns 54,037 shares of the business services provider's stock valued at $459,000 after acquiring an additional 14,522 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Marathon Digital by 48.2% in the third quarter. IFP Advisors Inc now owns 9,272 shares of the business services provider's stock valued at $79,000 after acquiring an additional 3,017 shares in the last quarter. Equitec Proprietary Markets LLC lifted its position in shares of Marathon Digital by 59.4% in the third quarter. Equitec Proprietary Markets LLC now owns 16,100 shares of the business services provider's stock valued at $137,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Marathon Digital by 105.6% in the third quarter. Exchange Traded Concepts LLC now owns 697,498 shares of the business services provider's stock valued at $5,929,000 after acquiring an additional 358,220 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.
Marathon Digital Company Profile
(
Get Free Report)
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.
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