EverSource Wealth Advisors LLC Acquires 63,775 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

EverSource Wealth Advisors LLC raised its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 6,222.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,800 shares of the business services provider's stock after purchasing an additional 63,775 shares during the period. EverSource Wealth Advisors LLC's holdings in Marathon Digital were worth $1,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Gladstone Institutional Advisory LLC grew its stake in shares of Marathon Digital by 24.7% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 35,391 shares of the business services provider's stock worth $831,000 after acquiring an additional 7,001 shares during the last quarter. Gainplan LLC bought a new position in Marathon Digital in the fourth quarter worth $353,000. Kingsview Wealth Management LLC bought a new position in Marathon Digital in the fourth quarter worth $297,000. Integrity Wealth Solutions LLC bought a new position in Marathon Digital in the fourth quarter worth $463,000. Finally, Foundations Investment Advisors LLC bought a new position in Marathon Digital in the fourth quarter worth $1,309,000. Institutional investors and hedge funds own 44.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MARA. B. Riley reduced their target price on Marathon Digital from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Friday, May 10th. Needham & Company LLC reissued a "hold" rating on shares of Marathon Digital in a report on Friday, May 10th. StockNews.com cut Marathon Digital from a "hold" rating to a "sell" rating in a report on Thursday, May 9th. HC Wainwright cut their price objective on Marathon Digital from $35.00 to $27.00 and set a "buy" rating for the company in a report on Friday, May 10th. Finally, 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $19.69.

Marathon Digital Price Performance

Shares of Marathon Digital stock traded down $0.11 during trading on Wednesday, reaching $21.24. The company's stock had a trading volume of 47,176,841 shares, compared to its average volume of 68,099,102. The stock has a 50-day moving average price of $18.91 and a two-hundred day moving average price of $19.17. The company has a current ratio of 23.07, a quick ratio of 23.07 and a debt-to-equity ratio of 0.13. Marathon Digital Holdings, Inc. has a one year low of $7.16 and a one year high of $34.09. The stock has a market capitalization of $5.80 billion, a P/E ratio of 10.50 and a beta of 5.38.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.07). Marathon Digital had a net margin of 106.46% and a negative return on equity of 3.80%. The business had revenue of $156.77 million during the quarter, compared to the consensus estimate of $138.15 million. As a group, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -0.17 EPS for the current fiscal year.

Marathon Digital 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.