Marathon Digital (NASDAQ:MARA) Trading 7.7% Higher

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price was up 7.7% on Tuesday . The stock traded as high as $19.47 and last traded at $18.91. Approximately 27,857,472 shares changed hands during trading, a decline of 62% from the average daily volume of 73,246,164 shares. The stock had previously closed at $17.55.

Analysts Set New Price Targets

A number of research analysts recently commented on MARA shares. BTIG Research raised shares of Marathon Digital from a "neutral" rating to a "buy" rating and set a $27.00 price objective on the stock in a research report on Wednesday, January 17th. HC Wainwright reissued a "buy" rating and set a $35.00 price objective on shares of Marathon Digital in a research report on Tuesday, March 19th. StockNews.com downgraded Marathon Digital from a "hold" rating to a "sell" rating in a research note on Monday, April 15th. 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 note on Wednesday, April 10th. 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 note on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Marathon Digital currently has a consensus rating of "Hold" and a consensus price target of $21.11.

Marathon Digital Stock Performance

The stock's 50-day moving average price is $21.47 and its 200 day moving average price is $17.72. 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 company has a market cap of $5.20 billion, a P/E ratio of 23.14 and a beta of 5.37.

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 analysts' consensus estimates of $0.05 by ($0.07). The firm 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%. As a group, research analysts expect that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Marathon Digital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC boosted its holdings in Marathon Digital by 7.7% in the 1st quarter. Global Retirement Partners LLC now owns 9,152 shares of the business services provider's stock valued at $207,000 after purchasing an additional 658 shares during the period. Intrepid Financial Planning Group LLC grew its position in Marathon Digital by 4.1% during the fourth quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider's stock worth $555,000 after buying an additional 930 shares in the last quarter. Arizona State Retirement System increased its stake in Marathon Digital by 3.0% during the third quarter. Arizona State Retirement System now owns 48,395 shares of the business services provider's stock valued at $411,000 after acquiring an additional 1,419 shares during the period. Versant Capital Management Inc raised its holdings in 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 valued at $39,000 after acquiring an additional 1,467 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Marathon Digital by 62.5% in the 4th quarter. CWM LLC now owns 4,560 shares of the business services provider's stock worth $107,000 after acquiring an additional 1,754 shares during the period. Institutional investors and hedge funds 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.