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

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

A number of other research analysts have also recently commented on MARA. HC Wainwright reiterated a “buy” rating and issued a $35.00 price objective on shares of Marathon Digital in a report on Tuesday, March 19th. JPMorgan Chase & Co. upped their price objective on Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a report on Wednesday, April 10th. Chardan Capital decreased their price objective on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, BTIG Research upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Wednesday, January 17th. Two research 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.83.

Marathon Digital Price Performance

Shares of MARA stock traded down $0.44 during trading hours on Thursday, reaching $19.65. The company had a trading volume of 44,802,313 shares, compared to its average volume of 70,332,266. The company has a debt-to-equity ratio of 0.20, a quick ratio of 30.51 and a current ratio of 30.50. The stock has a fifty day moving average of $19.48 and a 200-day moving average of $18.47. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 23.39 and a beta of 5.38. Marathon Digital has a 12-month low of $7.16 and a 12-month high of $34.09.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Xponance Inc. purchased a new position in Marathon Digital in the third quarter valued at $86,000. Bank of New York Mellon Corp boosted its holdings in Marathon Digital by 4.6% in the third quarter. Bank of New York Mellon Corp now owns 618,550 shares of the business services provider’s stock valued at $5,258,000 after purchasing an additional 27,350 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Marathon Digital by 17.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,720 shares of the business services provider’s stock valued at $236,000 after purchasing an additional 4,088 shares during the period. Financial Advocates Investment Management boosted its holdings in Marathon Digital by 8.4% in the third quarter. Financial Advocates Investment Management now owns 25,769 shares of the business services provider’s stock valued at $219,000 after purchasing an additional 2,000 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in Marathon Digital by 25.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 26,214 shares of the business services provider’s stock valued at $223,000 after purchasing an additional 5,367 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

About Marathon Digital

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.