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

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

Several other research analysts have also issued reports on MARA. BTIG Research raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, January 17th. JPMorgan Chase & Co. raised their target price 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. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 target price on shares of Marathon Digital in a research note on Tuesday, March 19th. Finally, Chardan Capital raised 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Marathon Digital currently has a consensus rating of “Hold” and an average target price of $21.11.

Marathon Digital Trading Down 1.8 %

MARA opened at $19.09 on Tuesday. The company has a current ratio of 30.50, a quick ratio of 30.51 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $5.11 billion, a PE ratio of 22.73 and a beta of 5.36. Marathon Digital has a 1-year low of $7.16 and a 1-year high of $34.09. The firm has a 50-day moving average price of $21.27 and a two-hundred day moving average price of $17.73.

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 the consensus estimate of $0.05 by ($0.07). The company had revenue of $156.77 million during 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%. As a group, equities analysts anticipate that Marathon Digital will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC lifted its stake in Marathon Digital by 7.7% in the first quarter. Global Retirement Partners LLC now owns 9,152 shares of the business services provider’s stock valued at $207,000 after buying an additional 658 shares in the last quarter. Intrepid Financial Planning Group LLC lifted its stake in Marathon Digital by 4.1% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider’s stock valued at $555,000 after buying an additional 930 shares in the last quarter. Arizona State Retirement System lifted its stake in Marathon Digital by 3.0% in the third quarter. Arizona State Retirement System now owns 48,395 shares of the business services provider’s stock valued at $411,000 after buying an additional 1,419 shares in the last quarter. Versant Capital Management Inc lifted its stake in Marathon Digital by 752.3% in the fourth quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock valued at $39,000 after buying an additional 1,467 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Marathon Digital by 62.5% in the fourth quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 1,754 shares during the last quarter. 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.