Marathon Digital (NASDAQ:MARA) Shares Down 5%

Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded down 5% during mid-day trading on Monday . The company traded as low as $17.70 and last traded at $18.45. 17,231,888 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 71,819,438 shares. The stock had previously closed at $19.43.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Marathon Digital in a research note on Tuesday, March 19th. Chardan Capital increased their price objective on shares of Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. 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 note on Wednesday, January 17th. JPMorgan Chase & Co. increased their price objective on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research note on Wednesday, April 10th. Finally, StockNews.com raised shares of Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.11.

Marathon Digital Stock Down 8.0 %

The company has a market capitalization of $4.79 billion, a PE ratio of 21.96 and a beta of 5.37. The company’s 50 day moving average is $20.96 and its two-hundred day moving average is $17.95. 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 issued its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $156.77 million during the quarter, compared to analysts’ expectations of $138.15 million. On average, analysts anticipate that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Versant Capital Management Inc grew its position in shares of Marathon Digital by 752.3% in the 4th 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. Harvest Fund Management Co. Ltd purchased a new position in shares of Marathon Digital in the 4th quarter worth approximately $61,000. GAMMA Investing LLC purchased a new position in shares of Marathon Digital in the 4th quarter worth approximately $75,000. IFP Advisors Inc grew its position in shares of Marathon Digital by 48.2% in the 3rd quarter. IFP Advisors Inc now owns 9,272 shares of the business services provider’s stock worth $79,000 after buying an additional 3,017 shares during the last quarter. Finally, Xponance Inc. purchased a new position in shares of Marathon Digital in the 3rd quarter worth approximately $86,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Company Profile

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.