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

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

Other research analysts have also issued reports about the company. HC Wainwright reiterated a “buy” rating and set a $35.00 price target on shares of Marathon Digital in a report on Tuesday, March 19th. BTIG Research upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, January 17th. Chardan Capital upped their target price on Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Finally, JPMorgan Chase & Co. upped their target price on Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.11.

Marathon Digital Stock Down 3.6 %

Shares of MARA stock opened at $14.60 on Monday. Marathon Digital has a 12 month low of $7.16 and a 12 month high of $34.09. The firm has a market cap of $3.91 billion, a PE ratio of 17.38 and a beta of 5.37. The stock has a 50 day moving average of $22.18 and a 200-day moving average of $17.36. The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $156.77 million for the quarter, compared to analyst estimates of $138.15 million. On average, equities analysts predict that Marathon Digital will post 0.02 EPS for the current year.

Hedge Funds Weigh In On Marathon Digital

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Marathon Digital by 5.7% in the third quarter. Vanguard Group Inc. now owns 18,523,195 shares of the business services provider’s stock valued at $157,447,000 after acquiring an additional 1,000,225 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Marathon Digital by 29.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock valued at $30,429,000 after acquiring an additional 296,776 shares during the last quarter. L2 Asset Management LLC bought a new position in Marathon Digital in the third quarter valued at about $300,000. SG Americas Securities LLC boosted its holdings in Marathon Digital by 203.9% in the fourth quarter. SG Americas Securities LLC now owns 266,176 shares of the business services provider’s stock valued at $6,252,000 after acquiring an additional 178,578 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in Marathon Digital in the fourth quarter valued at about $200,000. 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.