Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price traded up 3% during trading on Wednesday . The stock traded as high as $22.27 and last traded at $21.98. 16,956,667 shares changed hands during trading, a decline of 75% from the average session volume of 67,770,914 shares. The stock had previously closed at $21.35.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an "underweight" rating in a research note on Wednesday, April 10th. HC Wainwright dropped 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. StockNews.com downgraded shares of Marathon Digital from a "hold" rating to a "sell" rating in a research note on Thursday, May 9th. Chardan Capital dropped 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, B. Riley dropped 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. Two equities research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.69.
View Our Latest Stock Analysis on MARA
Marathon Digital Price Performance
The firm's 50-day moving average price is $18.94 and its two-hundred day moving average price is $19.19. The company has a current ratio of 23.07, a quick ratio of 23.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $5.80 billion, a PE ratio of 9.88 and a beta of 5.38.
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 net margin of 106.46% and a negative return on equity of 3.80%. The firm had revenue of $156.77 million for the quarter, compared to analysts' expectations of $138.15 million. On average, equities analysts expect that Marathon Digital Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.
Institutional Trading of Marathon Digital
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Beaird Harris Wealth Management LLC increased its holdings in 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 buying an additional 695 shares in the last quarter. Versant Capital Management Inc increased its holdings in Marathon Digital by 752.3% in the fourth quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider's stock valued at $39,000 after buying an additional 1,467 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Marathon Digital in the fourth quarter valued at $61,000. GAMMA Investing LLC purchased a new position in Marathon Digital in the fourth quarter valued at $75,000. Finally, FinTrust Capital Advisors LLC purchased a new stake in shares of Marathon Digital during the first quarter worth about $90,000. Institutional investors and hedge funds own 44.53% of the company's stock.
About Marathon Digital
(
Get Free Report)
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.
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