Marathon Digital (NASDAQ:MARA) Downgraded to “Sell” at StockNews.com

StockNews.com downgraded shares of Marathon Digital (NASDAQ:MARA) from a hold rating to a sell rating in a research report report published on Monday.

A number of other research firms have also issued reports on MARA. JPMorgan Chase & Co. lifted their target price on Marathon Digital from $16.00 to $16.50 and gave the stock an underweight rating in a report on Wednesday, April 10th. Chardan Capital increased their price target on Marathon Digital from $26.00 to $30.00 and gave the company a neutral rating in a research report on Monday, March 4th. BTIG Research upgraded Marathon Digital from a neutral rating to a buy rating and set a $27.00 price target for the company in a research report on Wednesday, January 17th. Finally, HC Wainwright reiterated a buy rating and issued a $35.00 price target on shares of Marathon Digital in a research report on Tuesday, March 19th. Two 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 MarketBeat.com, Marathon Digital has an average rating of Hold and an average target price of $21.11.

Marathon Digital Price Performance

NASDAQ:MARA opened at $15.15 on Monday. The business’s 50-day moving average price is $22.18 and its 200 day moving average price is $17.36. The firm has a market cap of $4.05 billion, a P/E ratio of 18.04 and a beta of 5.37. Marathon Digital has a 52-week low of $7.16 and a 52-week high of $34.09. The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The firm had revenue of $156.77 million for the quarter, compared to analyst estimates 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, sell-side analysts predict that Marathon Digital will post 0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marathon Digital

A number of institutional investors have recently bought and sold shares of MARA. Advisor Group Holdings Inc. boosted its position in Marathon Digital by 68.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 7,353 shares of the business services provider’s stock worth $25,000 after acquiring an additional 2,984 shares during the period. Macquarie Group Ltd. boosted its position in Marathon Digital by 96.8% during the 2nd quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider’s stock worth $29,000 after acquiring an additional 2,641 shares during the period. Smith Anglin Financial LLC purchased a new stake in shares of Marathon Digital during the 4th quarter worth about $34,000. Cetera Advisors LLC purchased a new stake in shares of Marathon Digital during the 4th quarter worth about $36,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Marathon Digital during the 1st quarter worth about $37,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.