Marathon Digital (NASDAQ:MARA) Given New $21.00 Price Target at Chardan Capital

Marathon Digital (NASDAQ:MARA - Free Report) had its price objective cut by Chardan Capital from $30.00 to $21.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the business services provider's stock.

Several other brokerages have also issued reports on MARA. HC Wainwright reissued a buy rating and issued a $35.00 price target on shares of Marathon Digital in a report on Tuesday, March 19th. BTIG Research raised shares of Marathon Digital from a neutral rating to a buy rating and set a $27.00 price target for the company in a research report on Wednesday, January 17th. StockNews.com raised Marathon Digital from a sell rating to a hold rating in a report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. upped their price objective on Marathon Digital from $16.00 to $16.50 and gave the company an underweight rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $19.83.

Marathon Digital Stock Performance

NASDAQ MARA traded down $0.12 during midday trading on Wednesday, hitting $20.09. The company had a trading volume of 39,573,158 shares, compared to its average volume of 70,618,922. The firm has a fifty day simple moving average of $19.82 and a two-hundred day simple moving average of $18.45. Marathon Digital has a fifty-two week low of $7.16 and a fifty-two week high of $34.09. The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 23.66 and a beta of 5.38.

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 for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $138.15 million. Equities analysts forecast that Marathon Digital will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of Marathon Digital

Several large investors have recently added to or reduced their stakes in MARA. 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 worth $39,000 after acquiring an additional 1,467 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Marathon Digital in the fourth quarter worth $61,000. GAMMA Investing LLC bought a new stake in shares of Marathon Digital during the fourth quarter worth $75,000. Xponance Inc. acquired a new stake in shares of Marathon Digital in the third quarter valued at $86,000. Finally, FinTrust Capital Advisors LLC bought a new position in shares of Marathon Digital in the first quarter valued at about $90,000. 44.53% of the stock is owned by 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.