Marathon Digital (NASDAQ:MARA) Downgraded by StockNews.com

StockNews.com cut shares of Marathon Digital (NASDAQ:MARA) from a hold rating to a sell rating in a research note published on Monday.

MARA has been the topic of a number of other reports. Chardan Capital lifted their price objective on shares of Marathon Digital from $26.00 to $30.00 and gave the company a neutral rating in a research report on Monday, March 4th. HC Wainwright reiterated a buy rating and set a $35.00 price target on shares of Marathon Digital in a research note on Tuesday, March 19th. JPMorgan Chase & Co. raised their price objective on shares of Marathon Digital from $16.00 to $16.50 and gave the company an underweight rating in a research report on Wednesday, April 10th. Finally, BTIG Research raised 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. 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 company’s 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 Price Performance

Shares of MARA opened at $14.63 on Monday. 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 has a fifty-two week low of $7.16 and a fifty-two week high of $34.09. The firm has a 50-day simple moving average of $22.07 and a 200-day simple moving average of $17.39. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 17.42 and a beta of 5.36.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share 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 company had revenue of $156.77 million for the quarter, compared to analyst estimates of $138.15 million. On average, equities research analysts anticipate that Marathon Digital will post -0.04 earnings per share for the current year.

Institutional Investors Weigh In On Marathon Digital

Institutional investors have recently modified their holdings of the company. Advisor Group Holdings Inc. raised its holdings in Marathon Digital by 68.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 7,353 shares of the business services provider’s stock worth $25,000 after purchasing an additional 2,984 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Marathon Digital by 96.8% during the 2nd quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider’s stock worth $29,000 after buying an additional 2,641 shares during the last quarter. Smith Anglin Financial LLC acquired a new stake in Marathon Digital in the 4th quarter valued at about $34,000. Cetera Advisors LLC purchased a new position in Marathon Digital during the 4th quarter valued at about $36,000. Finally, Quantbot Technologies LP acquired a new position in Marathon Digital during the first quarter worth about $37,000. 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.