Marathon Digital (NASDAQ:MARA) Shares Gap Down to $19.09

Marathon Digital Holdings, Inc. (NASDAQ:MARA) gapped down prior to trading on Thursday . The stock had previously closed at $19.09, but opened at $17.92. Marathon Digital shares last traded at $18.63, with a volume of 13,688,526 shares.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of Marathon Digital in a report on Tuesday, March 19th. Chardan Capital upped their price objective on shares of Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. JPMorgan Chase & Co. upped their price objective on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a report on Wednesday, April 10th. BTIG Research upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, January 17th. Finally, StockNews.com upgraded shares of Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Marathon Digital currently has a consensus rating of “Hold” and an average target price of $21.11.

Marathon Digital Stock Up 2.2 %

The company’s 50-day moving average is $20.96 and its 200 day moving average is $17.81. The company has a market capitalization of $5.20 billion, a PE ratio of 23.13 and a beta of 5.36. The company has a debt-to-equity ratio of 0.20, a quick ratio of 30.51 and a current ratio of 30.50.

Marathon Digital (NASDAQ:MARA) last announced 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 net margin of 48.93% and a negative return on equity of 4.61%. The firm had revenue of $156.77 million for the quarter, compared to analysts’ expectations of $138.15 million. As a group, analysts anticipate that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current year.

Institutional Trading of Marathon Digital

Several institutional investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. grew its position in Marathon Digital by 307.0% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 8,140 shares of the business services provider’s stock valued at $184,000 after purchasing an additional 6,140 shares during the last quarter. Spire Wealth Management boosted its holdings in shares of Marathon Digital by 77.6% during the 1st quarter. Spire Wealth Management now owns 22,863 shares of the business services provider’s stock valued at $516,000 after acquiring an additional 9,989 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Marathon Digital by 7.7% during the 1st quarter. Global Retirement Partners LLC now owns 9,152 shares of the business services provider’s stock valued at $207,000 after acquiring an additional 658 shares during the last quarter. Wealthstar Advisors LLC purchased a new stake in shares of Marathon Digital during the 1st quarter valued at about $248,000. Finally, United Capital Management of KS Inc. boosted its holdings in shares of Marathon Digital by 49.9% during the 1st quarter. United Capital Management of KS Inc. now owns 19,088 shares of the business services provider’s stock valued at $431,000 after acquiring an additional 6,350 shares during the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.