Marathon Digital (NASDAQ:MARA) Trading Down 2.6%

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares traded down 2.6% on Tuesday . The stock traded as low as $19.91 and last traded at $20.13. 18,492,913 shares traded hands during trading, a decline of 74% from the average session volume of 70,152,328 shares. The stock had previously closed at $20.67.

Analyst Ratings Changes

Several analysts have recently issued reports on MARA shares. 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. StockNews.com upgraded Marathon Digital from a "sell" rating to a "hold" rating in a research note on Tuesday, April 23rd. BTIG Research upgraded shares of Marathon Digital from a "neutral" rating to a "buy" rating and set a $27.00 target price on the stock in a research note on Wednesday, January 17th. HC Wainwright reiterated a "buy" rating and issued a $35.00 price target on shares of Marathon Digital in a research note on Tuesday, March 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Marathon Digital from $16.00 to $16.50 and gave the company an "underweight" rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Marathon Digital has an average rating of "Hold" and a consensus target price of $21.11.

Marathon Digital Stock Performance

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 company has a market cap of $5.52 billion, a PE ratio of 24.06 and a beta of 5.38. The stock has a 50 day simple moving average of $19.82 and a two-hundred day simple moving average of $18.45.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued 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 analyst estimates of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. Equities analysts predict that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in shares of Marathon Digital by 752.3% during the 4th quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider's stock worth $39,000 after purchasing an additional 1,467 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Marathon Digital in the 4th quarter worth about $61,000. GAMMA Investing LLC acquired a new stake in Marathon Digital in the 4th quarter valued at about $75,000. Xponance Inc. purchased a new position in Marathon Digital during the 3rd quarter valued at about $86,000. Finally, FinTrust Capital Advisors LLC acquired a new position in Marathon Digital during the first quarter worth about $90,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.