Marathon Digital (NASDAQ:MARA) Shares Down 0.6%

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares fell 0.6% during trading on Wednesday . The stock traded as low as $17.11 and last traded at $17.87. 12,366,082 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 77,312,266 shares. The stock had previously closed at $17.98.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. BTIG Research raised Marathon Digital from a "neutral" rating to a "buy" rating and set a $27.00 price target on the stock in a research note on Wednesday, January 17th. HC Wainwright reiterated a "buy" rating and set a $35.00 price target on shares of Marathon Digital in a report on Tuesday, March 19th. JPMorgan Chase & Co. raised their price target on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an "underweight" rating in a report on Wednesday. Chardan Capital upped their price objective on shares of Marathon Digital from $26.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, March 4th. Finally, StockNews.com upgraded shares of Marathon Digital from a "sell" rating to a "hold" rating in a report on Friday, March 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Marathon Digital currently has a consensus rating of "Hold" and an average target price of $21.11.

Marathon Digital Price Performance

The company has a current ratio of 30.50, a quick ratio of 30.51 and a debt-to-equity ratio of 0.20. The business's 50 day moving average price is $22.28 and its two-hundred day moving average price is $17.13. The stock has a market cap of $4.65 billion, a P/E ratio of 20.80 and a beta of 5.36.

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

Hedge Funds Weigh In On Marathon Digital

Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. grew its position in shares of Marathon Digital by 68.3% in 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 during the period. Macquarie Group Ltd. grew its holdings in Marathon Digital by 96.8% in the second quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider's stock worth $29,000 after purchasing an additional 2,641 shares during the period. Smith Anglin Financial LLC bought a new position in shares of Marathon Digital during the fourth quarter valued at approximately $34,000. Cetera Advisors LLC purchased a new position in shares of Marathon Digital during the fourth quarter valued at approximately $36,000. Finally, Quantbot Technologies LP bought a new stake in shares of Marathon Digital in the 1st quarter worth approximately $37,000. 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.