Marathon Digital (NASDAQ:MARA) Stock Price Down 1.7%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price fell 1.7% on Wednesday . The stock traded as low as $14.18 and last traded at $14.35. 11,709,018 shares were traded during trading, a decline of 84% from the average session volume of 74,417,250 shares. The stock had previously closed at $14.60.

Analyst Upgrades and Downgrades

MARA has been the subject of several recent research reports. Chardan Capital increased their price target on shares of Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. increased 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. StockNews.com lowered Marathon Digital from a “hold” rating to a “sell” rating in a research note on Monday. BTIG Research upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, January 17th. Finally, HC Wainwright restated a “buy” rating and issued a $35.00 price target on shares of Marathon Digital in a research report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Marathon Digital has an average rating of “Hold” and a consensus price target of $21.11.

Marathon Digital Stock Down 1.0 %

The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 17.08 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 50-day simple moving average is $22.18 and its two-hundred day simple moving average is $17.36.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). Marathon Digital had a net margin of 48.93% and a negative return on equity of 4.61%. The company had revenue of $156.77 million during the quarter, compared to analyst estimates of $138.15 million. On average, sell-side analysts expect that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Marathon Digital

A number of institutional investors and hedge funds have recently made changes to their positions in MARA. Vanguard Group Inc. increased its position in 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 purchasing an additional 4,950,392 shares during the period. Morgan Stanley boosted its stake in Marathon Digital by 208.7% in the third quarter. Morgan Stanley now owns 6,999,580 shares of the business services provider’s stock valued at $59,496,000 after acquiring an additional 4,731,807 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Marathon Digital by 297.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,636,538 shares of the business services provider’s stock worth $8,739,000 after acquiring an additional 1,224,300 shares during the period. Two Sigma Investments LP bought a new stake in shares of Marathon Digital during the 4th quarter valued at $4,033,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Marathon Digital by 1,487.4% in the 4th 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 period. 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.