Marathon Digital (NASDAQ:MARA) Shares Gap Up to $5.33

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Rating) gapped up before the market opened on Monday . The stock had previously closed at $5.33, but opened at $5.70. Marathon Digital shares last traded at $5.81, with a volume of 8,641,229 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MARA shares. B. Riley dropped their price target on Marathon Digital from $8.00 to $6.00 in a research report on Tuesday. Jefferies Financial Group lowered Marathon Digital from a “buy” rating to a “hold” rating and dropped their price target for the company from $12.50 to $4.00 in a research report on Monday, January 9th. Finally, DA Davidson dropped their price target on Marathon Digital from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, January 12th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Marathon Digital presently has a consensus rating of “Hold” and an average price target of $12.89.

Marathon Digital Stock Performance

The stock has a market capitalization of $832.86 million, a P/E ratio of -2.93 and a beta of 5.05. The stock has a 50 day moving average of $6.85 and a 200 day moving average of $8.27. The company has a debt-to-equity ratio of 1.25, a quick ratio of 5.27 and a current ratio of 5.27.

Insider Buying and Selling

In related news, Director Douglas K. Mellinger acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, December 28th. The stock was purchased at an average cost of $3.27 per share, for a total transaction of $32,700.00. Following the purchase, the director now directly owns 28,771 shares in the company, valued at $94,081.17. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased a total of 25,000 shares of company stock worth $90,200 in the last three months. 0.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MARA. Lazard Asset Management LLC grew its stake in shares of Marathon Digital by 14,413.7% in the third quarter. Lazard Asset Management LLC now owns 10,595 shares of the business services provider’s stock worth $113,000 after purchasing an additional 10,522 shares in the last quarter. Arete Wealth Advisors LLC bought a new position in shares of Marathon Digital in the third quarter worth $341,000. KLK Capital Management LLC bought a new position in shares of Marathon Digital in the third quarter worth $1,670,000. Blueshift Asset Management LLC bought a new position in shares of Marathon Digital in the third quarter worth $596,000. Finally, Financial Advocates Investment Management grew its stake in shares of Marathon Digital by 22.8% in the second quarter. Financial Advocates Investment Management now owns 14,176 shares of the business services provider’s stock worth $76,000 after purchasing an additional 2,630 shares in the last quarter. 39.88% of the stock is currently owned by institutional investors.

Marathon Digital Company Profile

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Marathon Digital Holdings, Inc is a digital asset technology company, which engages in mining cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets. The company was founded on February 23, 2010 and is headquartered in Las Vegas, NV.