Marathon Digital (NASDAQ:MARA) Shares Down 3.6%

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price traded down 3.6% on Tuesday . The stock traded as low as $21.48 and last traded at $21.52. 22,875,626 shares were traded during trading, a decline of 66% from the average session volume of 68,059,266 shares. The stock had previously closed at $22.32.

Analyst Ratings Changes

MARA has been the topic of a number of recent analyst reports. HC Wainwright lowered their price target on shares of Marathon Digital from $35.00 to $27.00 and set a "buy" rating on the stock in a report on Friday, May 10th. Needham & Company LLC reissued a "hold" rating on shares of Marathon Digital in a research note on Friday, May 10th. B. Riley reduced their price target on Marathon Digital from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Friday, May 10th. JPMorgan Chase & Co. raised 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. Finally, Chardan Capital decreased their target price on Marathon Digital from $30.00 to $21.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $19.69.

Marathon Digital Trading Down 4.3 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 23.07 and a current ratio of 23.07. The company has a 50 day moving average of $18.91 and a 200 day moving average of $19.17. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 9.93 and a beta of 5.38.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its 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). Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. The business had revenue of $156.77 million during the quarter, compared to analysts' expectations of $138.15 million. On average, research analysts predict that Marathon Digital Holdings, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Trading of Marathon Digital

A number of hedge funds and other institutional investors have recently made changes to their positions in MARA. Global Retirement Partners LLC lifted its holdings in shares of Marathon Digital by 7.7% in the 1st quarter. Global Retirement Partners LLC now owns 9,152 shares of the business services provider's stock worth $207,000 after acquiring an additional 658 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its stake in Marathon Digital by 121.1% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider's stock worth $29,000 after acquiring an additional 695 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Marathon Digital by 4.1% during the 1st quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider's stock valued at $505,000 after acquiring an additional 881 shares during the period. Intrepid Financial Planning Group LLC grew its position in Marathon Digital by 4.1% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider's stock valued at $555,000 after acquiring an additional 930 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Marathon Digital by 3.0% during the third quarter. Arizona State Retirement System now owns 48,395 shares of the business services provider's stock worth $411,000 after purchasing an additional 1,419 shares during the period. Institutional investors and hedge funds own 44.53% of the company's stock.

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.