Marathon Digital (NASDAQ:MARA) Stock Price Down 3%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price was down 3% during trading on Monday . The company traded as low as $15.42 and last traded at $15.62. Approximately 13,511,342 shares changed hands during trading, a decline of 82% from the average daily volume of 75,546,898 shares. The stock had previously closed at $16.11.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MARA shares. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, January 17th. StockNews.com lowered Marathon Digital from a “hold” rating to a “sell” rating in a report on Monday. JPMorgan Chase & Co. lifted their target price on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a report on Wednesday, April 10th. HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of Marathon Digital in a report on Tuesday, March 19th. Finally, Chardan Capital lifted their target price on Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.11.

Marathon Digital Trading Down 3.6 %

The company has a market capitalization of $3.91 billion, a P/E ratio of 17.38 and a beta of 5.36. The business has a fifty day moving average price of $22.18 and a 200 day moving average price of $17.36. The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The firm had revenue of $156.77 million during the quarter, compared to the consensus estimate of $138.15 million. Marathon Digital had a net margin of 48.93% and a negative return on equity of 4.61%. On average, analysts expect that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of Marathon Digital

Institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. raised its holdings in Marathon Digital by 11.0% during the second quarter. Osaic Holdings Inc. now owns 7,676 shares of the business services provider’s stock worth $116,000 after acquiring an additional 762 shares in the last quarter. Captrust Financial Advisors raised its holdings in Marathon Digital by 5.9% during the second quarter. Captrust Financial Advisors now owns 16,738 shares of the business services provider’s stock worth $232,000 after acquiring an additional 928 shares in the last quarter. Intrepid Financial Planning Group LLC raised its holdings in Marathon Digital by 4.1% during the fourth quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider’s stock worth $555,000 after acquiring an additional 930 shares in the last quarter. Private Advisor Group LLC raised its holdings in Marathon Digital by 6.1% during the first quarter. Private Advisor Group LLC now owns 17,709 shares of the business services provider’s stock worth $495,000 after acquiring an additional 1,015 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Marathon Digital by 17.8% during the second quarter. Russell Investments Group Ltd. now owns 6,736 shares of the business services provider’s stock worth $93,000 after acquiring an additional 1,019 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors.

Marathon Digital Company 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.