Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares were down 3% during trading on Monday . The stock traded as low as $15.42 and last traded at $15.62. Approximately 13,511,342 shares traded hands during trading, a decline of 82% from the average daily volume of 75,546,898 shares. The stock had previously closed at $16.11.
Analysts Set New Price Targets
Several analysts have recently issued reports on the company. StockNews.com upgraded Marathon Digital from a "sell" rating to a "hold" rating in a research note on Friday, March 8th. JPMorgan Chase & Co. increased their price objective on Marathon Digital from $16.00 to $16.50 and gave the company an "underweight" rating in a research note on Wednesday, April 10th. HC Wainwright reiterated a "buy" rating and issued a $35.00 price objective on shares of Marathon Digital in a research note on Tuesday, March 19th. Chardan Capital increased their price objective on Marathon Digital from $26.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, March 4th. Finally, BTIG Research upgraded 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. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Marathon Digital currently has an average rating of "Hold" and an average target price of $21.11.
Read Our Latest Research Report on MARA
Marathon Digital Price Performance
The stock has a 50-day moving average price of $22.18 and a 200 day moving average price of $17.36. The company has a debt-to-equity ratio of 0.20, a current ratio of 30.50 and a quick ratio of 30.51. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 18.04 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) EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $138.15 million. As a group, equities research analysts forecast that Marathon Digital Holdings, Inc. will post 0.02 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Marathon Digital
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Marathon Digital by 26.7% during the fourth quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider's stock worth $551,395,000 after buying an additional 4,950,392 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Marathon Digital by 36.3% in the 4th quarter. Wellington Management Group LLP now owns 27,775 shares of the business services provider's stock valued at $652,000 after purchasing an additional 7,390 shares in the last quarter. Vima LLC purchased a new stake in Marathon Digital in the 4th quarter valued at approximately $949,000. American International Group Inc. boosted its holdings in Marathon Digital by 24.0% in the 4th quarter. American International Group Inc. now owns 105,896 shares of the business services provider's stock valued at $2,487,000 after purchasing an additional 20,472 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Marathon Digital in the 4th quarter valued at approximately $1,629,000. Hedge funds and other institutional investors 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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