Marathon Patent Group, Inc. (MARA) Shares Gap Down to $0.44
Shares of Marathon Patent Group, Inc. (NASDAQ:MARA) gapped down prior to trading on Monday . The stock had previously closed at $0.45, but opened at $0.44. Marathon Patent Group shares last traded at $0.41, with a volume of 7,593,305 shares traded.
Separately, Zacks Investment Research upgraded shares of Marathon Patent Group from a “hold” rating to a “buy” rating and set a $0.50 target price for the company in a research note on Wednesday, May 17th.
The company’s market capitalization is $9.34 million. The company has a 50 day moving average price of $0.29 and a 200-day moving average price of $0.56.
Marathon Patent Group (NASDAQ:MARA) last announced its quarterly earnings results on Monday, August 14th. The business services provider reported ($0.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. The company had revenue of $0.37 million for the quarter, compared to analyst estimates of $0.50 million. Marathon Patent Group had a negative net margin of 5,770.02% and a negative return on equity of 1,139.06%. On average, equities analysts anticipate that Marathon Patent Group, Inc. will post $0.11 earnings per share for the current fiscal 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 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,000 shares of the business services provider’s stock after purchasing an additional 60,900 shares during the period. Renaissance Technologies LLC owned 0.56% of Marathon Patent Group worth $144,000 as of its most recent SEC filing. 8.35% of the stock is currently owned by hedge funds and other institutional investors.
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Marathon Patent Group Company Profile
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.
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