Marathon Digital Holdings, Inc. (NASDAQ:MARA) Holdings Decreased by Flaharty Asset Management LLC

Flaharty Asset Management LLC reduced its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,050 shares of the business services provider’s stock after selling 1,500 shares during the quarter. Flaharty Asset Management LLC’s holdings in Marathon Digital were worth $729,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Arizona State Retirement System increased its stake in Marathon Digital by 3.0% in the 3rd quarter. Arizona State Retirement System now owns 48,395 shares of the business services provider’s stock worth $411,000 after purchasing an additional 1,419 shares in the last quarter. Versant Capital Management Inc boosted its position in Marathon Digital by 752.3% during the 4th quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock worth $39,000 after acquiring an additional 1,467 shares during the period. CWM LLC boosted its position in Marathon Digital by 62.5% during the 4th quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock worth $107,000 after acquiring an additional 1,754 shares during the period. Kestra Advisory Services LLC boosted its position in Marathon Digital by 16.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 12,888 shares of the business services provider’s stock worth $110,000 after acquiring an additional 1,858 shares during the period. Finally, Financial Advocates Investment Management boosted its position in Marathon Digital by 8.4% during the 3rd quarter. Financial Advocates Investment Management now owns 25,769 shares of the business services provider’s stock worth $219,000 after acquiring an additional 2,000 shares during the period. 44.53% of the stock is currently owned by institutional investors.

Marathon Digital Price Performance

NASDAQ:MARA traded down $1.07 during trading hours on Monday, reaching $18.36. The company had a trading volume of 13,969,791 shares, compared to its average volume of 71,769,313. The stock has a 50-day moving average of $20.96 and a two-hundred day moving average of $17.95. 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 Holdings, Inc. has a one year low of $7.16 and a one year high of $34.09. The firm has a market capitalization of $4.91 billion, a PE ratio of 21.32 and a beta of 5.37.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. StockNews.com upgraded Marathon Digital from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. BTIG Research upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, January 17th. HC Wainwright reiterated a “buy” rating and set a $35.00 price target on shares of Marathon Digital in a report on Tuesday, March 19th. Finally, Chardan Capital lifted their price target on Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.11.

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.