Marathon Digital (NASDAQ:MARA) Trading Up 11.2%

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares shot up 11.2% on Monday . The stock traded as high as $20.16 and last traded at $19.49. 35,258,658 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 70,118,484 shares. The stock had previously closed at $17.52.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Chardan Capital upped their price objective on Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. 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 note on Wednesday, April 10th. StockNews.com upgraded Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. HC Wainwright restated a “buy” rating and set a $35.00 price objective on shares of Marathon Digital in a research report on Tuesday, March 19th. Finally, BTIG Research raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.11.

Marathon Digital Trading Up 18.0 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 30.50 and a quick ratio of 30.51. The stock has a 50-day moving average price of $20.19 and a two-hundred day moving average price of $18.27. The stock has a market cap of $5.64 billion, a PE ratio of 23.20 and a beta of 5.38.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings results 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 analysts’ expectations of $138.15 million. Marathon Digital had a net margin of 48.93% and a negative return on equity of 4.61%. Sell-side analysts forecast that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marathon Digital

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Marathon Digital by 26.7% in the 4th quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock worth $551,395,000 after buying an additional 4,950,392 shares during the last quarter. Hel Ved Capital Management Ltd purchased a new position in shares of Marathon Digital during the 4th quarter worth about $11,531,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Marathon Digital by 29.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock worth $42,840,000 after purchasing an additional 410,146 shares during the period. Barclays PLC raised its holdings in shares of Marathon Digital by 159.2% in the third quarter. Barclays PLC now owns 120,173 shares of the business services provider’s stock worth $1,021,000 after buying an additional 323,134 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Marathon Digital by 29.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock valued at $30,429,000 after purchasing an additional 296,776 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

About Marathon Digital

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.