Marathon Patent Group, Inc. (MARA) Stock Price Down 6.8%
Marathon Patent Group, Inc. (NASDAQ:MARA) shares traded down 6.8% on Friday . The company traded as low as $0.40 and last traded at $0.41, with a volume of 7,593,305 shares trading hands. The stock had previously closed at $0.44.
Separately, Zacks Investment Research cut shares of Marathon Patent Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st.
The company’s market cap is $9.95 million. The company has a 50 day moving average of $0.29 and a 200 day moving average of $0.58.
Marathon Patent Group (NASDAQ:MARA) last announced its earnings results on Monday, August 14th. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. Marathon Patent Group had a negative net margin of 5,770.02% and a negative return on equity of 1,139.06%. The business had revenue of $0.37 million for the quarter, compared to analyst estimates of $0.50 million. On average, equities analysts forecast that Marathon Patent Group, Inc. will post $0.11 earnings per share for the current year.
An institutional investor recently raised its position in Marathon Patent Group stock. Renaissance Technologies LLC raised its stake in Marathon Patent Group, Inc. (NASDAQ:MARA) by 263.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,000 shares of the business services provider’s stock after buying an additional 60,900 shares during the period. Renaissance Technologies LLC owned 0.56% of Marathon Patent Group worth $144,000 at the end of the most recent reporting period. Institutional investors own 8.35% of the company’s stock.
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About Marathon Patent Group
Marathon Patent Group Inc (MARA) is engaged in acquiring patents and patent rights from owners or other ventures. The Company monetizes its portfolio of patents and patent rights by entering into license discussions. The Company owns around 378 United States and foreign patents, and patent rights across a range of technologies and markets.