Marathon Digital (NASDAQ:MARA) Trading 1.3% Higher

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price rose 1.3% on Wednesday . The company traded as high as $20.39 and last traded at $20.28. Approximately 36,053,159 shares changed hands during trading, a decline of 19% from the average daily volume of 44,766,916 shares. The stock had previously closed at $20.02.

Wall Street Analyst Weigh In

MARA has been the topic of several research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Marathon Digital in a report on Friday, May 10th. B. Riley dropped 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 reiterated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a report on Thursday. StockNews.com lowered shares of Marathon Digital from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Finally, Chardan Capital decreased their price objective on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Two 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, the company has a consensus rating of “Hold” and a consensus price target of $19.33.

Marathon Digital Price Performance

The stock has a market capitalization of $5.84 billion, a PE ratio of 9.61 and a beta of 5.46. 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 stock’s 50-day moving average is $19.06 and its 200 day moving average is $20.55.

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

Insider Buying and Selling at Marathon Digital

In other news, Director Said Ouissal sold 10,217 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $20.50, for a total transaction of $209,448.50. Following the completion of the sale, the director now directly owns 60,046 shares of the company’s stock, valued at approximately $1,230,943. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.11% of the company’s stock.

Institutional Trading of Marathon Digital

Several large investors have recently added to or reduced their stakes in the business. Beaird Harris Wealth Management LLC raised its holdings in shares of Marathon Digital by 121.1% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 695 shares in the last quarter. Versant Capital Management Inc increased its position in Marathon Digital by 752.3% during the fourth quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock worth $39,000 after buying an additional 1,467 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Marathon Digital during the fourth quarter valued at about $61,000. GAMMA Investing LLC acquired a new stake in shares of Marathon Digital in the fourth quarter worth about $75,000. Finally, FinTrust Capital Advisors LLC bought a new stake in shares of Marathon Digital during the 1st quarter worth about $90,000. 44.53% of the stock is owned by 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.