Marathon Patent Group, Inc. (MARA) Trading Up 8.6%
Marathon Patent Group, Inc. (NASDAQ:MARA) was up 8.6% on Wednesday . The stock traded as high as $0.44 and last traded at $0.42. Approximately 1,423,613 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 3,482,860 shares. The stock had previously closed at $0.39.
Separately, Zacks Investment Research cut Marathon Patent Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st.
The company’s market capitalization is $10.14 million. The firm’s 50 day moving average is $0.29 and its 200 day moving average is $0.56.
Marathon Patent Group (NASDAQ:MARA) last released its quarterly earnings data on Monday, August 14th. The business services provider reported ($0.09) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. The firm had revenue of $0.37 million for the quarter, compared to the consensus estimate of $0.50 million. Marathon Patent Group had a negative return on equity of 1,139.06% and a negative net margin of 5,770.02%. Equities analysts expect that Marathon Patent Group, Inc. will post $0.11 EPS for the current year.
An institutional investor recently raised its position in Marathon Patent Group stock. Renaissance Technologies LLC boosted its holdings in shares of Marathon Patent Group, Inc. (NASDAQ:MARA) by 263.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 about 0.56% of Marathon Patent Group worth $144,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 8.35% of the company’s stock.
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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.