Marathon Digital (NASDAQ:MARA) Lowered to “Sell” at StockNews.com

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

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

Marathon Digital Price Performance

Shares of MARA stock opened at $15.03 on Monday. The firm has a fifty day moving average of $22.07 and a two-hundred day moving average of $17.39. The firm has a market cap of $4.02 billion, a P/E ratio of 17.89 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 company has a debt-to-equity ratio of 0.20, a current ratio of 30.50 and a quick ratio of 30.51.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results 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 net margin of 48.93% and a negative return on equity of 4.61%. The firm had revenue of $156.77 million during the quarter, compared to the consensus estimate of $138.15 million. As a group, research analysts anticipate that Marathon Digital will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marathon Digital

Institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. lifted its stake in Marathon Digital by 11.0% in the 2nd quarter. Osaic Holdings Inc. now owns 7,676 shares of the business services provider’s stock worth $116,000 after acquiring an additional 762 shares in the last quarter. Captrust Financial Advisors grew its position in Marathon Digital by 5.9% during the second quarter. Captrust Financial Advisors now owns 16,738 shares of the business services provider’s stock valued at $232,000 after purchasing an additional 928 shares in the last quarter. Intrepid Financial Planning Group LLC increased its stake in Marathon Digital by 4.1% in the 4th 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 during the period. Private Advisor Group LLC lifted its position in Marathon Digital by 6.1% in the 1st quarter. Private Advisor Group LLC now owns 17,709 shares of the business services provider’s stock worth $495,000 after buying an additional 1,015 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Marathon Digital by 17.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,736 shares of the business services provider’s stock valued at $93,000 after acquiring an additional 1,019 shares in the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

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.