Marathon Digital (NASDAQ:MARA) Raised 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 report published on Tuesday morning.

A number of other research analysts have also commented on the stock. Chardan Capital upped their price objective on shares of Marathon Digital from $26.00 to $30.00 and gave the company a neutral rating in a research report on Monday, March 4th. HC Wainwright reaffirmed a buy rating and set a $35.00 price objective on shares of Marathon Digital in a research report on Tuesday, March 19th. JPMorgan Chase & Co. upped their price objective on shares of Marathon Digital from $16.00 to $16.50 and gave the company an underweight rating in a research report on Wednesday, April 10th. Finally, BTIG Research raised shares of Marathon Digital from a neutral rating to a buy rating and set a $27.00 price objective for the company in a research report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $21.11.

Marathon Digital Stock Up 2.2 %

Marathon Digital stock opened at $19.43 on Tuesday. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 23.13 and a beta of 5.36. 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 fifty-two week low of $7.16 and a fifty-two week high of $34.09. The firm has a fifty day moving average price of $20.96 and a two-hundred day moving average price of $17.81.

Marathon Digital (NASDAQ:MARA) last released its 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). 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, analysts forecast that Marathon Digital will post -0.04 earnings per share for the current year.

Institutional Trading of Marathon Digital

Several large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew its stake in Marathon Digital by 7.7% during the first quarter. Global Retirement Partners LLC now owns 9,152 shares of the business services provider’s stock worth $207,000 after buying an additional 658 shares during the last quarter. Intrepid Financial Planning Group LLC grew its stake in Marathon Digital by 4.1% during the fourth quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider’s stock worth $555,000 after buying an additional 930 shares during the last quarter. Arizona State Retirement System grew its stake in Marathon Digital by 3.0% during the third quarter. Arizona State Retirement System now owns 48,395 shares of the business services provider’s stock worth $411,000 after buying an additional 1,419 shares during the last quarter. Versant Capital Management Inc grew its stake in Marathon Digital by 752.3% during the fourth quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock worth $39,000 after buying an additional 1,467 shares during the last quarter. Finally, CWM LLC grew its stake in Marathon Digital by 62.5% during the fourth quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock worth $107,000 after buying an additional 1,754 shares during the last quarter. 44.53% of the stock is owned by institutional investors.

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.