Marathon Digital (NASDAQ:MARA) Earns "Hold" Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Marathon Digital (NASDAQ:MARA - Free Report) in a report published on Friday morning, Benzinga reports.

A number of other brokerages have also issued reports on MARA. BTIG Research upgraded shares of 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. JPMorgan Chase & Co. raised 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. HC Wainwright restated a buy rating and issued a $35.00 price target on shares of Marathon Digital in a research report on Tuesday, March 19th. Chardan Capital cut their price objective on Marathon Digital from $30.00 to $21.00 and set a neutral rating for the company in a research report on Wednesday. Finally, StockNews.com cut Marathon Digital from a hold rating to a sell rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Marathon Digital has an average rating of Hold and an average price target of $19.69.

Marathon Digital Stock Performance

Shares of Marathon Digital stock traded down $2.49 during trading on Friday, hitting $17.16. 55,960,722 shares of the stock were exchanged, compared to its average volume of 70,181,375. The stock's fifty day moving average is $19.48 and its 200 day moving average is $18.47. The stock has a market cap of $4.68 billion, a PE ratio of 20.79 and a beta of 5.38. The company has a debt-to-equity ratio of 0.20, a quick ratio of 30.51 and a current ratio of 30.50. Marathon Digital has a 12 month low of $7.16 and a 12 month high of $34.09.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). The firm 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%. As a group, sell-side analysts anticipate that Marathon Digital will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Marathon Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of MARA. Versant Capital Management Inc boosted its position in Marathon Digital by 752.3% in the 4th 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 during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Marathon Digital in the 4th quarter valued at $61,000. GAMMA Investing LLC bought a new position in Marathon Digital in the 4th quarter valued at $75,000. Xponance Inc. bought a new position in Marathon Digital in the 3rd quarter valued at $86,000. Finally, FinTrust Capital Advisors LLC bought a new position in shares of Marathon Digital in the 1st quarter worth $90,000. 44.53% of the stock is owned by institutional investors and hedge funds.

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.