Marathon Digital (NASDAQ:MARA) Shares Gap Up to $18.43

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) gapped up prior to trading on Monday . The stock had previously closed at $18.43, but opened at $19.42. Marathon Digital shares last traded at $18.56, with a volume of 9,435,036 shares trading hands.

Wall Street Analysts Forecast Growth

MARA has been the topic of several recent research reports. BTIG Research upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, January 17th. Chardan Capital lifted their price target on shares of Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. StockNews.com raised shares of Marathon Digital from a “sell” rating to a “hold” rating in a research report on Friday, March 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Marathon Digital in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.47.

Marathon Digital Stock Up 0.2 %

The firm has a market cap of $4.81 billion, a P/E ratio of 21.41 and a beta of 5.36. The company has a debt-to-equity ratio of 0.20, a quick ratio of 30.51 and a current ratio of 30.50. The firm’s fifty day moving average is $22.28 and its 200 day moving average is $17.13.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). The company had revenue of $156.77 million for the quarter, compared to the consensus estimate of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. As a group, equities research analysts anticipate that Marathon Digital Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.

Institutional Trading of Marathon Digital

A number of institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its holdings in Marathon Digital by 11.0% in the 2nd quarter. Osaic Holdings Inc. now owns 7,676 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 762 shares during the period. Captrust Financial Advisors raised its position in shares of Marathon Digital by 5.9% in the 2nd quarter. Captrust Financial Advisors now owns 16,738 shares of the business services provider’s stock valued at $232,000 after buying an additional 928 shares in the last quarter. Intrepid Financial Planning Group LLC raised its position in shares of Marathon Digital by 4.1% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider’s stock valued at $555,000 after buying an additional 930 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Marathon Digital by 6.1% in the 1st quarter. Private Advisor Group LLC now owns 17,709 shares of the business services provider’s stock valued at $495,000 after buying an additional 1,015 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Marathon Digital by 17.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,736 shares of the business services provider’s stock valued at $93,000 after buying an additional 1,019 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

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.