Marathon Digital (NASDAQ:MARA) Trading Up 2.9%

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price was up 2.9% on Thursday . The company traded as high as $16.51 and last traded at $15.78. Approximately 14,887,538 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 55,802,398 shares. The stock had previously closed at $15.34.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MARA shares. B. Riley upped their target price on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, July 12th. JPMorgan Chase & Co. dropped their price target on shares of Marathon Digital from $14.00 to $12.00 and set an "underweight" rating on the stock in a research note on Friday, August 23rd. Finally, HC Wainwright reiterated a "buy" rating and issued a $27.00 price target on shares of Marathon Digital in a research note on Thursday, June 20th. Two 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $19.22.

Marathon Digital Stock Performance

The company has a market cap of $4.37 billion, a P/E ratio of 7.19 and a beta of 5.51. The business's 50 day simple moving average is $17.98 and its 200 day simple moving average is $19.07. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its earnings results 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). Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The firm had revenue of $145.14 million for the quarter, compared to the consensus estimate of $157.86 million. During the same quarter in the previous year, the business posted ($0.13) EPS. Marathon Digital's revenue was up 77.5% on a year-over-year basis. Sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Institutional Trading of Marathon Digital

Several institutional investors have recently made changes to their positions in the business. Beaird Harris Wealth Management LLC lifted its holdings in Marathon Digital by 121.1% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider's stock worth $29,000 after purchasing an additional 695 shares in the last quarter. Ranch Capital Advisors Inc. increased its holdings in shares of Marathon Digital by 6.1% in the second quarter. Ranch Capital Advisors Inc. now owns 13,532 shares of the business services provider's stock worth $269,000 after purchasing an additional 780 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Marathon Digital by 4.1% in the first quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider's stock worth $505,000 after purchasing an additional 881 shares during the last quarter. Intrepid Financial Planning Group LLC lifted its position in shares of Marathon Digital by 4.1% in 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 in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in Marathon Digital by 2.1% during the first quarter. Commonwealth Equity Services LLC now owns 70,974 shares of the business services provider's stock valued at $1,603,000 after buying an additional 1,430 shares during the last quarter. 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.