Marathon Digital Target of Unusually High Options Trading (NASDAQ:MARA)

Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Free Report) saw some unusual options trading on Friday. Stock investors bought 599,501 call options on the company. This is an increase of 77% compared to the average volume of 338,604 call options.

Marathon Digital Trading Up 10.7 %

MARA stock opened at $23.89 on Friday. The company has a market cap of $5.32 billion, a P/E ratio of -8.04 and a beta of 5.44. Marathon Digital has a twelve month low of $5.13 and a twelve month high of $31.30. The company has a quick ratio of 11.33, a current ratio of 11.33 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $20.15 and a 200-day moving average of $14.12.

Marathon Digital (NASDAQ:MARAGet Free Report) last released its quarterly earnings data on Wednesday, November 8th. The business services provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The company had revenue of $97.85 million during the quarter, compared to the consensus estimate of $99.60 million. Marathon Digital had a negative net margin of 136.97% and a negative return on equity of 8.68%. As a group, equities research analysts expect that Marathon Digital will post -0.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. HC Wainwright increased their price target on Marathon Digital from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Sanford C. Bernstein began coverage on Marathon Digital in a report on Tuesday, October 31st. They set a “market perform” rating and a $8.30 price target for the company. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, January 17th. Finally, StockNews.com downgraded Marathon Digital from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Marathon Digital has a consensus rating of “Hold” and a consensus price target of $15.76.

View Our Latest Report on MARA

Institutional Investors Weigh In On Marathon Digital

Several large investors have recently modified their holdings of the business. L2 Asset Management LLC acquired a new position in Marathon Digital in the 3rd quarter valued at $300,000. Geode Capital Management LLC raised its holdings in shares of Marathon Digital by 41.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,705,238 shares of the business services provider’s stock worth $51,360,000 after buying an additional 1,080,124 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Marathon Digital by 105.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 697,498 shares of the business services provider’s stock worth $5,929,000 after buying an additional 358,220 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Marathon Digital by 280.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 41,546 shares of the business services provider’s stock worth $353,000 after buying an additional 30,631 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Marathon Digital by 17.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,720 shares of the business services provider’s stock worth $236,000 after buying an additional 4,088 shares in the last quarter. 39.02% of the stock is currently owned by institutional investors.

Marathon Digital Company Profile

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Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the blockchain ecosystem and the generation of digital assets 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.

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