Marathon Digital (NASDAQ:MARA) Stock Rating Upgraded by StockNews.com

Marathon Digital (NASDAQ:MARA) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

A number of other equities research analysts have also issued reports on the stock. Chardan Capital lifted their target price on shares of Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. lifted their price objective on shares of Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a research note on Wednesday, April 10th. 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. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Marathon Digital in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Marathon Digital presently has a consensus rating of “Hold” and a consensus target price of $21.11.

Marathon Digital Trading Down 1.8 %

NASDAQ MARA opened at $19.09 on Tuesday. Marathon Digital has a twelve month low of $7.16 and a twelve month high of $34.09. 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 stock has a market cap of $5.11 billion, a price-to-earnings ratio of 22.73 and a beta of 5.36. The firm’s 50 day moving average price is $21.27 and its two-hundred day moving average price is $17.73.

Marathon Digital (NASDAQ:MARA) last issued its earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The company had revenue of $156.77 million for the quarter, compared to analyst estimates of $138.15 million. Marathon Digital had a net margin of 48.93% and a negative return on equity of 4.61%. Equities analysts anticipate that Marathon Digital will post -0.04 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MARA. Vontobel Holding Ltd. increased its holdings in shares of Marathon Digital by 280.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 41,546 shares of the business services provider’s stock worth $353,000 after purchasing an additional 30,631 shares during the period. AE Wealth Management LLC increased its holdings in shares of Marathon Digital by 36.8% during the 3rd quarter. AE Wealth Management LLC now owns 54,037 shares of the business services provider’s stock worth $459,000 after purchasing an additional 14,522 shares during the period. IFP Advisors Inc increased its holdings in shares of Marathon Digital by 48.2% during the 3rd quarter. IFP Advisors Inc now owns 9,272 shares of the business services provider’s stock worth $79,000 after purchasing an additional 3,017 shares during the period. Exchange Traded Concepts LLC increased its stake in Marathon Digital by 105.6% in the third quarter. Exchange Traded Concepts LLC now owns 697,498 shares of the business services provider’s stock valued at $5,929,000 after acquiring an additional 358,220 shares during the period. Finally, Kingswood Wealth Advisors LLC increased its stake in Marathon Digital by 2.7% in the third quarter. Kingswood Wealth Advisors LLC now owns 83,661 shares of the business services provider’s stock valued at $711,000 after acquiring an additional 2,181 shares during the period. 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.