Marathon Digital (NASDAQ:MARA) Shares Down 1.5%

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price fell 1.5% on Wednesday . The company traded as low as $18.67 and last traded at $19.14. 22,311,228 shares changed hands during trading, a decline of 69% from the average session volume of 73,061,250 shares. The stock had previously closed at $19.44.

Wall Street Analysts Forecast Growth

MARA has been the subject of a number of analyst reports. StockNews.com raised Marathon Digital from a "sell" rating to a "hold" rating in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on Marathon Digital from $16.00 to $16.50 and gave the stock an "underweight" rating in a research note on Wednesday, April 10th. HC Wainwright reissued a "buy" rating and set a $35.00 target price on shares of Marathon Digital in a research note on Tuesday, March 19th. BTIG Research raised 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, Chardan Capital increased their target price on Marathon Digital from $26.00 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $21.11.

Marathon Digital Stock Down 1.8 %

The stock has a market capitalization of $5.11 billion, a PE ratio of 22.73 and a beta of 5.36. The firm has a 50 day moving average of $21.27 and a two-hundred day moving average of $17.73. The company has a current ratio of 30.50, a quick ratio of 30.51 and a debt-to-equity ratio of 0.20.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $138.15 million. Equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current year.

Institutional Investors Weigh In On Marathon Digital

A number of large investors have recently bought and sold shares of MARA. Vontobel Holding Ltd. grew its holdings in Marathon Digital by 280.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 41,546 shares of the business services provider's stock valued at $353,000 after buying an additional 30,631 shares during the last quarter. AE Wealth Management LLC grew its holdings in Marathon Digital by 36.8% during the 3rd quarter. AE Wealth Management LLC now owns 54,037 shares of the business services provider's stock valued at $459,000 after buying an additional 14,522 shares during the last quarter. IFP Advisors Inc grew its holdings in Marathon Digital by 48.2% during the 3rd quarter. IFP Advisors Inc now owns 9,272 shares of the business services provider's stock valued at $79,000 after buying an additional 3,017 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Marathon Digital by 105.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 697,498 shares of the business services provider's stock valued at $5,929,000 after buying an additional 358,220 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC grew its holdings in Marathon Digital by 2.7% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 83,661 shares of the business services provider's stock valued at $711,000 after buying an additional 2,181 shares during 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.