Marathon Digital (NASDAQ:MARA) Shares Gap Up to $17.52

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $17.52, but opened at $18.44. Marathon Digital shares last traded at $19.74, with a volume of 18,407,222 shares trading hands.

Analyst Ratings Changes

MARA has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Marathon Digital from $16.00 to $16.50 and gave the company an "underweight" rating in a research note on Wednesday, April 10th. 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 note on Wednesday, January 17th. Chardan Capital raised their price target on Marathon Digital from $26.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, March 4th. StockNews.com upgraded Marathon Digital from a "sell" rating to a "hold" rating in a research note on Tuesday, April 23rd. Finally, HC Wainwright restated a "buy" rating and issued a $35.00 price target on shares of Marathon Digital in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Marathon Digital currently has an average rating of "Hold" and a consensus target price of $21.11.

Marathon Digital Trading Up 18.0 %

The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 24.61 and a beta of 5.38. The business's 50 day moving average price is $20.02 and its 200-day moving average price is $18.36. The company has a debt-to-equity ratio of 0.20, a current ratio of 30.50 and a quick ratio of 30.51.

Marathon Digital (NASDAQ:MARA - Get Free Report) 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 business had revenue of $156.77 million for the quarter, compared to analyst estimates of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. Equities analysts forecast that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew 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 worth $39,000 after acquiring an additional 1,467 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in Marathon Digital during the fourth quarter worth $61,000. GAMMA Investing LLC acquired a new position in Marathon Digital during the fourth quarter worth $75,000. Xponance Inc. acquired a new position in Marathon Digital during the third quarter worth $86,000. Finally, FinTrust Capital Advisors LLC acquired a new position in Marathon Digital during the first quarter worth $90,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.