Marathon Digital (NASDAQ:MARA) Shares Up 6.4%

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) shot up 6.4% on Thursday . The company traded as high as $15.58 and last traded at $15.56. 12,851,564 shares changed hands during trading, a decline of 83% from the average session volume of 73,952,430 shares. The stock had previously closed at $14.63.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MARA. Chardan Capital raised their price objective on 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. StockNews.com lowered Marathon Digital from a “hold” rating to a “sell” rating in a report on Monday, April 15th. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. lifted 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. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Marathon Digital has a consensus rating of “Hold” and an average price target of $21.11.

Marathon Digital Trading Up 9.8 %

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 has a market cap of $4.42 billion, a P/E ratio of 19.64 and a beta of 5.36. The stock has a fifty day simple moving average of $21.94 and a 200 day simple moving average of $17.37.

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 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 during the quarter, compared to the consensus estimate of $138.15 million. On average, research analysts expect that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of Marathon Digital

Several large investors have recently modified their holdings of MARA. Vanguard Group Inc. grew 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 acquiring an additional 4,950,392 shares during the period. Morgan Stanley lifted its position in Marathon Digital by 208.7% during the third quarter. Morgan Stanley now owns 6,999,580 shares of the business services provider’s stock valued at $59,496,000 after purchasing an additional 4,731,807 shares in the last quarter. Renaissance Technologies LLC lifted its position in Marathon Digital by 297.0% during the second quarter. Renaissance Technologies LLC now owns 1,636,538 shares of the business services provider’s stock valued at $8,739,000 after purchasing an additional 1,224,300 shares in the last quarter. Two Sigma Investments LP purchased a new position in Marathon Digital during the fourth quarter valued at $4,033,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Marathon Digital by 1,487.4% during the fourth 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 in the last quarter. 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.