Marathon Digital (NASDAQ:MARA) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Marathon Digital (NASDAQ:MARA) from a sell rating to a hold rating in a research report released on Tuesday morning.

A number of other analysts have also weighed in on MARA. HC Wainwright reaffirmed a buy rating and set a $35.00 target price on shares of Marathon Digital in a report on Tuesday, March 19th. JPMorgan Chase & Co. lifted their price objective on Marathon Digital from $16.00 to $16.50 and gave the company an underweight rating in a research note on Wednesday, April 10th. Chardan Capital upped their target price on Marathon Digital from $26.00 to $30.00 and gave the stock a neutral rating in a research note on Monday, March 4th. Finally, BTIG Research raised 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $21.11.

Marathon Digital Trading Up 10.8 %

NASDAQ MARA opened at $19.44 on Tuesday. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 23.14 and a beta of 5.37. The business’s fifty day moving average is $21.47 and its 200-day moving average is $17.72. The company has a debt-to-equity ratio of 0.20, a current ratio of 30.50 and a quick ratio of 30.51. Marathon Digital has a one year low of $7.16 and a one year high of $34.09.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.07). Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. The firm had revenue of $156.77 million for the quarter, compared to the consensus estimate of $138.15 million. Equities research analysts predict that Marathon Digital will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Marathon Digital

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Marathon Digital by 26.7% in the fourth quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock worth $551,395,000 after buying an additional 4,950,392 shares in the last quarter. Hel Ved Capital Management Ltd purchased a new stake in Marathon Digital in the 4th quarter worth $11,531,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Marathon Digital by 29.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock valued at $42,840,000 after purchasing an additional 410,146 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of Marathon Digital by 105.6% during the third quarter. Exchange Traded Concepts LLC now owns 697,498 shares of the business services provider’s stock valued at $5,929,000 after purchasing an additional 358,220 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Marathon Digital by 159.2% in the third quarter. Barclays PLC now owns 120,173 shares of the business services provider’s stock worth $1,021,000 after purchasing an additional 323,134 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.