Marathon Digital (NASDAQ:MARA) Trading Down 5.2%

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares were down 5.2% on Tuesday . The company traded as low as $14.29 and last traded at $14.36. Approximately 14,947,498 shares were traded during trading, a decline of 80% from the average daily volume of 75,000,016 shares. The stock had previously closed at $15.15.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MARA shares. StockNews.com cut Marathon Digital from a "hold" rating to a "sell" rating in a report on Monday. Chardan Capital lifted 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. HC Wainwright reaffirmed a "buy" rating and set a $35.00 price target on shares of Marathon Digital in a report on Tuesday, March 19th. 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 report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. lifted their price target on Marathon Digital from $16.00 to $16.50 and gave the company an "underweight" rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Marathon Digital presently has a consensus rating of "Hold" and a consensus price target of $21.11.

Marathon Digital Stock Performance

The stock has a market cap of $3.91 billion, a P/E ratio of 17.38 and a beta of 5.37. The company has a fifty day moving average of $22.18 and a 200 day moving average 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.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) 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 business had revenue of $156.77 million during the quarter, compared to analyst estimates of $138.15 million. On average, equities analysts predict that Marathon Digital Holdings, Inc. will post 0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

Several institutional investors and hedge funds have recently added to or reduced their stakes in MARA. Osaic Holdings Inc. lifted its stake in shares of Marathon Digital by 11.0% in the 2nd quarter. Osaic Holdings Inc. now owns 7,676 shares of the business services provider's stock valued at $116,000 after purchasing an additional 762 shares during the last quarter. Captrust Financial Advisors lifted its position in Marathon Digital by 5.9% during the 2nd quarter. Captrust Financial Advisors now owns 16,738 shares of the business services provider's stock worth $232,000 after acquiring an additional 928 shares during the last quarter. Intrepid Financial Planning Group LLC lifted its position in Marathon Digital by 4.1% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider's stock worth $555,000 after acquiring an additional 930 shares during the last quarter. Private Advisor Group LLC lifted its position in Marathon Digital by 6.1% during the 1st quarter. Private Advisor Group LLC now owns 17,709 shares of the business services provider's stock worth $495,000 after acquiring an additional 1,015 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Marathon Digital by 17.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,736 shares of the business services provider's stock worth $93,000 after acquiring an additional 1,019 shares during the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

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.