Marathon Digital (NASDAQ:MARA) Shares Down 0.1%

Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded down 0.1% during trading on Thursday . The company traded as low as $15.40 and last traded at $15.78. 9,286,405 shares were traded during trading, a decline of 84% from the average session volume of 56,477,695 shares. The stock had previously closed at $15.79.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MARA. JPMorgan Chase & Co. reduced their price target on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research note on Thursday, June 20th. Finally, B. Riley upped their price target on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.22.

Marathon Digital Trading Up 0.4 %

The business’s 50 day simple moving average is $18.55 and its 200-day simple moving average is $19.58. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75. The stock has a market capitalization of $4.48 billion, a P/E ratio of 7.34 and a beta of 5.51.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The company had revenue of $145.14 million for the quarter, compared to analyst estimates of $157.86 million. Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The firm’s revenue for the quarter was up 77.5% on a year-over-year basis. During the same period last year, the firm earned ($0.13) earnings per share. As a group, analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Institutional Trading of Marathon Digital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in shares of Marathon Digital during the fourth quarter worth approximately $930,000. Victory Capital Management Inc. increased its stake in Marathon Digital by 57.2% in the fourth quarter. Victory Capital Management Inc. now owns 29,204 shares of the business services provider’s stock valued at $686,000 after acquiring an additional 10,627 shares during the last quarter. Natixis Advisors L.P. acquired a new position in Marathon Digital during the fourth quarter valued at approximately $296,000. Amalgamated Bank lifted its stake in Marathon Digital by 16.6% during the fourth quarter. Amalgamated Bank now owns 30,512 shares of the business services provider’s stock worth $717,000 after purchasing an additional 4,337 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of Marathon Digital in the 4th quarter valued at $228,000. 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.