Marathon Digital (NASDAQ:MARA) Shares Gap Down to $10.92

Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Rating) shares gapped down before the market opened on Monday . The stock had previously closed at $10.92, but opened at $10.31. Marathon Digital shares last traded at $10.82, with a volume of 104,513 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Jefferies Financial Group cut their price target on shares of Marathon Digital from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, August 11th. Chardan Capital began coverage on Marathon Digital in a research report on Friday, June 3rd. They set a “buy” rating and a $19.00 price target for the company. B. Riley cut their price objective on Marathon Digital from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 12th. DA Davidson decreased their target price on Marathon Digital from $30.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, September 15th. Finally, Cowen lifted their target price on Marathon Digital from $7.00 to $9.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 23rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.13.

Marathon Digital Stock Performance

The company has a debt-to-equity ratio of 1.11, a current ratio of 4.02 and a quick ratio of 4.02. The stock has a market capitalization of $1.20 billion, a P/E ratio of -5.13 and a beta of 5.34. The company has a 50 day simple moving average of $12.77 and a 200-day simple moving average of $14.63.

Marathon Digital (NASDAQ:MARAGet Rating) last released its quarterly earnings data on Monday, August 8th. The business services provider reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.49). Marathon Digital had a negative net margin of 114.11% and a positive return on equity of 6.10%. The business had revenue of $24.92 million for the quarter, compared to analysts’ expectations of $41.10 million. On average, equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.26 EPS for the current year.

Insider Activity at Marathon Digital

In related news, Director Kevin A. Denuccio bought 5,000 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was bought at an average price of $13.72 per share, with a total value of $68,600.00. Following the purchase, the director now owns 105,000 shares in the company, valued at approximately $1,440,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Marathon Digital

Large investors have recently added to or reduced their stakes in the company. Tobam raised its stake in shares of Marathon Digital by 139.3% during the first quarter. Tobam now owns 1,247 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 726 shares during the last quarter. Bradley & Co. Private Wealth Management LLC bought a new position in Marathon Digital during the 1st quarter valued at approximately $35,000. Quantbot Technologies LP purchased a new stake in Marathon Digital in the 1st quarter worth approximately $37,000. CWM LLC grew its position in shares of Marathon Digital by 50.3% in the 1st quarter. CWM LLC now owns 2,236 shares of the business services provider’s stock worth $62,000 after buying an additional 748 shares during the last quarter. Finally, Accel Wealth Management purchased a new position in shares of Marathon Digital during the first quarter valued at approximately $69,000. Institutional investors own 42.59% of the company’s stock.

Marathon Digital Company Profile

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Marathon Digital Holdings, Inc operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States. As of December 31, 2021, it had approximately 8,115 bitcoins, which included the 4,794 bitcoins held in the investment fund.

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