Marathon Digital (NASDAQ:MARA) Stock Price Up 2%

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shot up 2% during trading on Thursday . The company traded as high as $16.95 and last traded at $16.39. 12,380,103 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 70,649,719 shares. The stock had previously closed at $16.07.

Analysts Set New Price Targets

Several equities analysts have weighed in on MARA shares. HC Wainwright restated a “buy” rating and set a $35.00 price objective on shares of Marathon Digital in a research note on Tuesday, March 19th. StockNews.com raised shares of Marathon Digital from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Chardan Capital upped their price objective on shares of Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. lifted their target price on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. Finally, BTIG Research upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.11.

Marathon Digital Trading Up 6.2 %

The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20. The firm has a market cap of $4.66 billion, a P/E ratio of 19.51 and a beta of 5.38. The firm’s 50-day simple moving average is $20.47 and its 200 day simple moving average is $18.07.

Marathon Digital (NASDAQ:MARA) last posted 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). Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. The company had revenue of $156.77 million during the quarter, compared to the consensus estimate of $138.15 million. As a group, analysts expect that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current year.

Institutional Investors Weigh In On Marathon Digital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Xponance Inc. bought a new position in Marathon Digital during the third quarter worth about $86,000. FinTrust Capital Advisors LLC grew its stake in Marathon Digital by 52.9% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 13,000 shares of the business services provider’s stock valued at $110,000 after buying an additional 4,500 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Marathon Digital by 4.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 618,550 shares of the business services provider’s stock valued at $5,258,000 after acquiring an additional 27,350 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Marathon Digital by 17.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,720 shares of the business services provider’s stock worth $236,000 after acquiring an additional 4,088 shares in the last quarter. Finally, Financial Advocates Investment Management boosted its holdings in shares of Marathon Digital by 8.4% in the third 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.

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.