Marathon Digital (NASDAQ:MARA) Shares Down 0.2%

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) fell 0.2% during trading on Monday . The stock traded as low as $16.33 and last traded at $16.46. 23,519,130 shares were traded during mid-day trading, a decline of 68% from the average session volume of 73,307,828 shares. The stock had previously closed at $16.50.

Wall Street Analysts Forecast Growth

MARA has been the topic of several analyst reports. StockNews.com lowered shares of Marathon Digital from a "hold" rating to a "sell" rating in a report on Monday, April 15th. JPMorgan Chase & Co. lifted their price objective on Marathon Digital from $16.00 to $16.50 and gave the company an "underweight" rating in a report on Wednesday, April 10th. HC Wainwright reissued a "buy" rating and issued a $35.00 target price on shares of Marathon Digital in a report on Tuesday, March 19th. BTIG Research upgraded Marathon Digital from a "neutral" rating to a "buy" rating and set a $27.00 target price for the company in a research report on Wednesday, January 17th. Finally, Chardan Capital upped their price target on Marathon Digital from $26.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, March 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $21.11.

Marathon Digital Trading Up 6.4 %

The business's fifty day moving average is $21.79 and its two-hundred day moving average is $17.57. 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 firm has a market cap of $4.70 billion, a price-to-earnings ratio of 20.69 and a beta of 5.37.

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 for the quarter, missing analysts' consensus estimates of $0.05 by ($0.07). The business had revenue of $156.77 million for the quarter, compared to the consensus estimate of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. Equities analysts anticipate that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

Several hedge funds have recently added to or reduced their stakes in the stock. Intrepid Financial Planning Group LLC raised its stake 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 buying an additional 930 shares during the period. Arizona State Retirement System raised its holdings in Marathon Digital by 3.0% during the 3rd quarter. Arizona State Retirement System now owns 48,395 shares of the business services provider's stock worth $411,000 after buying an additional 1,419 shares during the period. Versant Capital Management Inc lifted its stake 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. CWM LLC boosted its holdings in shares of Marathon Digital by 62.5% in the fourth quarter. CWM LLC now owns 4,560 shares of the business services provider's stock valued at $107,000 after buying an additional 1,754 shares during the period. Finally, Kestra Advisory Services LLC increased its position in shares of Marathon Digital by 16.8% during the third quarter. Kestra Advisory Services LLC now owns 12,888 shares of the business services provider's stock worth $110,000 after acquiring an additional 1,858 shares in the last quarter. Institutional investors and hedge funds 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.