Stock Traders Purchase High Volume of Marathon Digital Call Options (NASDAQ:MARA)

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

Marathon Digital Trading Up 10.7 %

Shares of MARA stock opened at $23.89 on Friday. The business’s fifty day moving average price is $20.15 and its 200 day moving average price is $14.12. Marathon Digital has a 1-year low of $5.13 and a 1-year high of $31.30. The firm has a market capitalization of $5.32 billion, a PE ratio of -8.04 and a beta of 5.44. The company has a debt-to-equity ratio of 0.32, a current ratio of 11.33 and a quick ratio of 11.33.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in Marathon Digital by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 474,377 shares of the business services provider’s stock valued at $13,259,000 after purchasing an additional 4,843 shares during the last quarter. HighTower Advisors LLC grew its holdings in Marathon Digital by 17.6% in the first quarter. HighTower Advisors LLC now owns 57,486 shares of the business services provider’s stock valued at $1,607,000 after purchasing an additional 8,588 shares during the last quarter. Private Advisor Group LLC grew its holdings in Marathon Digital by 6.1% in the first quarter. Private Advisor Group LLC now owns 17,709 shares of the business services provider’s stock valued at $495,000 after purchasing an additional 1,015 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Marathon Digital by 54.7% in the first quarter. MetLife Investment Management LLC now owns 52,851 shares of the business services provider’s stock valued at $1,477,000 after purchasing an additional 18,693 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Marathon Digital by 33.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,230 shares of the business services provider’s stock valued at $398,000 after purchasing an additional 3,601 shares during the last quarter. Institutional investors and hedge funds own 39.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MARA shares. StockNews.com lowered Marathon Digital from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. HC Wainwright boosted their target price on Marathon Digital from $20.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Wednesday, January 17th. Finally, Sanford C. Bernstein began coverage on Marathon Digital in a report on Tuesday, October 31st. They issued a “market perform” rating and a $8.30 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Marathon Digital currently has a consensus rating of “Hold” and an average price target of $15.76.

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About Marathon Digital

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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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