Marathon Digital (NASDAQ:MARA) Shares Up 6.4%

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price traded up 6.4% on Thursday . The stock traded as high as $15.58 and last traded at $15.56. 12,851,564 shares were traded during mid-day trading, a decline of 83% from the average session volume of 73,952,430 shares. The stock had previously closed at $14.63.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. HC Wainwright reiterated a "buy" rating and issued a $35.00 price objective on shares of Marathon Digital in a research report on Tuesday, March 19th. Chardan Capital increased their price objective on Marathon Digital from $26.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, March 4th. JPMorgan Chase & Co. raised their price target 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 upgraded 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. Finally, StockNews.com lowered Marathon Digital from a "hold" rating to a "sell" rating in a research report on Monday. Two 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's stock. Based on data from MarketBeat.com, Marathon Digital currently has an average rating of "Hold" and an average target price of $21.11.

Marathon Digital Stock Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 30.50 and a quick ratio of 30.51. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 17.89 and a beta of 5.36. The stock has a 50 day simple moving average of $22.07 and a two-hundred day simple moving average of $17.39.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its earnings results on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.07). Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. The firm had revenue of $156.77 million for the quarter, compared to analyst estimates of $138.15 million. As a group, analysts anticipate that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Marathon Digital

A number of hedge funds and other institutional investors have recently made changes to their positions in MARA. Osaic Holdings Inc. boosted its holdings in Marathon Digital by 11.0% in the 2nd quarter. Osaic Holdings Inc. now owns 7,676 shares of the business services provider's stock valued at $116,000 after purchasing an additional 762 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Marathon Digital by 5.9% during the 2nd quarter. Captrust Financial Advisors now owns 16,738 shares of the business services provider's stock valued at $232,000 after acquiring an additional 928 shares during the period. Intrepid Financial Planning Group LLC lifted its position in shares of Marathon Digital by 4.1% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider's stock valued at $555,000 after acquiring an additional 930 shares during the period. Private Advisor Group LLC lifted its position in shares of Marathon Digital by 6.1% during the 1st quarter. Private Advisor Group LLC now owns 17,709 shares of the business services provider's stock valued at $495,000 after acquiring an additional 1,015 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Marathon Digital by 17.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,736 shares of the business services provider's stock worth $93,000 after purchasing an additional 1,019 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.

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.