Marathon Digital (NASDAQ:MARA) Stock Price Down 1.9%

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) traded down 1.9% during trading on Monday . The stock traded as low as $17.61 and last traded at $18.08. 23,370,199 shares were traded during trading, a decline of 70% from the average session volume of 78,581,992 shares. The stock had previously closed at $18.43.

Analyst Ratings Changes

Several equities analysts have commented on the company. Chardan Capital increased their price target on Marathon Digital from $26.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, March 4th. StockNews.com raised shares of Marathon Digital from a "sell" rating to a "hold" rating in a research report on Friday, March 8th. BTIG Research upgraded shares of Marathon Digital from a "neutral" rating to a "buy" rating and set a $27.00 target price for the company in a research note on Wednesday, January 17th. Finally, HC Wainwright reiterated a "buy" rating and set a $35.00 target price on shares of Marathon Digital in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $19.47.

Marathon Digital Price Performance

The company's 50-day moving average is $22.28 and its 200-day moving average is $17.07. 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 $4.80 billion, a price-to-earnings ratio of 21.37 and a beta of 5.37.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted 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 negative return on equity of 4.61% and a net margin of 48.93%. The firm had revenue of $156.77 million during the quarter, compared to the consensus estimate of $138.15 million. Equities research analysts expect that Marathon Digital Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marathon Digital

Several large investors have recently made changes to their positions in the company. Advisor Group Holdings Inc. lifted its position in Marathon Digital by 68.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 7,353 shares of the business services provider's stock worth $25,000 after buying an additional 2,984 shares in the last quarter. Macquarie Group Ltd. lifted its position in Marathon Digital by 96.8% during the 2nd quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider's stock worth $29,000 after buying an additional 2,641 shares in the last quarter. Smith Anglin Financial LLC acquired a new position in Marathon Digital during the 4th quarter valued at about $34,000. Cetera Advisors LLC acquired a new position in Marathon Digital during the 4th quarter valued at about $36,000. Finally, Quantbot Technologies LP acquired a new position in Marathon Digital during the 1st quarter valued at about $37,000. Institutional investors own 44.53% of the company's stock.

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.