Marathon Digital (NASDAQ:MARA) Trading 5.3% Higher

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price was up 5.3% on Tuesday . The stock traded as high as $19.72 and last traded at $19.68. Approximately 14,046,781 shares were traded during trading, a decline of 78% from the average daily volume of 64,009,367 shares. The stock had previously closed at $18.69.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MARA shares. StockNews.com cut Marathon Digital from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. B. Riley cut their price target on Marathon Digital from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research note on Thursday, June 20th. JPMorgan Chase & Co. cut their target price on shares of Marathon Digital from $16.50 to $14.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 4th. Finally, Chardan Capital dropped their price objective on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Two 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 MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.33.

Marathon Digital Trading Up 0.6 %

The company’s 50 day simple moving average is $19.38 and its two-hundred day simple moving average is $20.68. The company has a quick ratio of 23.07, a current ratio of 23.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 9.01 and a beta of 5.46.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data on Thursday, May 9th. The business services provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. The business had revenue of $165.20 million during the quarter, compared to analyst estimates of $193.89 million. As a group, research analysts anticipate that Marathon Digital Holdings, Inc. will post -0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Said Ouissal sold 10,217 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $20.50, for a total transaction of $209,448.50. Following the transaction, the director now owns 60,046 shares in the company, valued at $1,230,943. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.11% of the company’s stock.

Institutional Trading of Marathon Digital

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Marathon Digital by 143.0% during the first quarter. EverSource Wealth Advisors LLC now owns 157,449 shares of the business services provider’s stock worth $3,555,000 after buying an additional 92,649 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Marathon Digital during the 1st quarter worth about $105,000. Cetera Advisors LLC grew its stake in Marathon Digital by 606.5% during the 1st quarter. Cetera Advisors LLC now owns 105,648 shares of the business services provider’s stock valued at $2,386,000 after purchasing an additional 90,695 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Marathon Digital in the first quarter valued at about $3,696,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Marathon Digital in the first quarter worth about $312,000. 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.