Marathon Digital (NASDAQ:MARA) Trading Up 3%

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded up 3% on Friday . The company traded as high as $15.70 and last traded at $15.48. 12,655,958 shares traded hands during trading, a decline of 83% from the average session volume of 73,479,305 shares. The stock had previously closed at $15.03.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MARA shares. BTIG Research raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Wednesday, January 17th. JPMorgan Chase & Co. raised their price target on shares of Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a report on Wednesday, April 10th. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price target on shares of Marathon Digital in a report on Tuesday, March 19th. Chardan Capital lifted their price objective on Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Finally, StockNews.com lowered Marathon Digital from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.11.

Marathon Digital Price Performance

The firm’s 50-day moving average is $21.79 and its 200-day moving average is $17.43. The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $4.42 billion, a PE ratio of 19.64 and a beta of 5.36.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. Equities analysts predict that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Marathon Digital by 26.7% during the fourth quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock valued at $551,395,000 after buying an additional 4,950,392 shares during the last quarter. Morgan Stanley grew its position in Marathon Digital by 208.7% during the 3rd quarter. Morgan Stanley now owns 6,999,580 shares of the business services provider’s stock worth $59,496,000 after acquiring an additional 4,731,807 shares during the last quarter. Renaissance Technologies LLC increased its stake in Marathon Digital by 297.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,636,538 shares of the business services provider’s stock worth $8,739,000 after purchasing an additional 1,224,300 shares during the period. Two Sigma Investments LP purchased a new position in Marathon Digital in the 4th quarter worth approximately $4,033,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Marathon Digital by 1,487.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,055,242 shares of the business services provider’s stock valued at $24,789,000 after purchasing an additional 988,766 shares during the last quarter. Hedge funds and other 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.