Marathon Digital (NASDAQ:MARA) Trading 1.7% Higher

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price traded up 1.7% during trading on Monday . The company traded as high as $19.82 and last traded at $19.79. 11,714,378 shares changed hands during trading, a decline of 83% from the average session volume of 67,968,703 shares. The stock had previously closed at $19.45.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MARA. B. Riley reduced their target price on shares of Marathon Digital from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Friday, May 10th. JPMorgan Chase & Co. raised their target price on shares of Marathon Digital from $16.00 to $16.50 and gave the company an "underweight" rating in a research note on Wednesday, April 10th. Needham & Company LLC reaffirmed a "hold" rating on shares of Marathon Digital in a research note on Friday, May 10th. Chardan Capital reduced their target price on shares of Marathon Digital from $30.00 to $21.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 8th. Finally, HC Wainwright reduced their target price on shares of Marathon Digital from $35.00 to $27.00 and set a "buy" rating on the stock in a research note on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Marathon Digital presently has a consensus rating of "Hold" and an average target price of $19.69.

Marathon Digital Stock Up 14.8 %

The firm's 50 day moving average is $18.89 and its two-hundred day moving average is $19.09. The firm has a market cap of $6.09 billion, a P/E ratio of 10.38 and a beta of 5.38. The company has a current ratio of 23.07, a quick ratio of 23.07 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its quarterly earnings data 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 negative return on equity of 3.80% and a net margin of 106.46%. The firm had revenue of $156.77 million for the quarter, compared to the consensus estimate of $138.15 million. As a group, research analysts anticipate that Marathon Digital Holdings, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Trading of Marathon Digital

Several hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC raised its holdings in Marathon Digital by 7.7% during the 1st quarter. Global Retirement Partners LLC now owns 9,152 shares of the business services provider's stock worth $207,000 after buying an additional 658 shares during the period. Beaird Harris Wealth Management LLC raised its holdings in shares of Marathon Digital by 121.1% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider's stock valued at $29,000 after purchasing an additional 695 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Marathon Digital by 4.1% in the first quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider's stock valued at $505,000 after purchasing an additional 881 shares during the last quarter. Intrepid Financial Planning Group LLC raised its holdings in shares of Marathon Digital by 4.1% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider's stock valued at $555,000 after purchasing an additional 930 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Marathon Digital by 3.0% in the third quarter. Arizona State Retirement System now owns 48,395 shares of the business services provider's stock valued at $411,000 after purchasing an additional 1,419 shares during the last quarter. 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.