Marathon Digital (NASDAQ:MARA – Get Free Report) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
Several other equities analysts have also recently issued reports on the company. HC Wainwright lifted their price objective on Marathon Digital from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Wednesday, January 17th. Finally, Sanford C. Bernstein initiated coverage on Marathon Digital in a research report on Tuesday, October 31st. They set a “market perform” rating and a $8.30 price target for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Marathon Digital currently has an average rating of “Hold” and a consensus target price of $15.76.
Marathon Digital Stock Down 5.7 %
MARA opened at $25.72 on Wednesday. The business has a 50 day simple moving average of $20.40 and a 200-day simple moving average of $14.17. The stock has a market capitalization of $5.73 billion, a P/E ratio of -8.66 and a beta of 5.44. Marathon Digital has a 12 month low of $5.13 and a 12 month high of $31.30. The company has a debt-to-equity ratio of 0.32, a current ratio of 11.33 and a quick ratio of 11.33.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of MARA. Morgan Stanley lifted its stake in shares of Marathon Digital by 208.7% during the third quarter. Morgan Stanley now owns 6,999,580 shares of the business services provider’s stock worth $59,496,000 after purchasing an additional 4,731,807 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Marathon Digital by 297.0% in the second quarter. Renaissance Technologies LLC now owns 1,636,538 shares of the business services provider’s stock worth $8,739,000 after acquiring an additional 1,224,300 shares in the last quarter. Two Sigma Investments LP acquired a new position in shares of Marathon Digital in the fourth quarter worth about $4,033,000. Geode Capital Management LLC lifted its stake in shares of Marathon Digital by 41.1% in the second quarter. Geode Capital Management LLC now owns 3,705,238 shares of the business services provider’s stock worth $51,360,000 after acquiring an additional 1,080,124 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Marathon Digital by 5.7% in the third quarter. Vanguard Group Inc. now owns 18,523,195 shares of the business services provider’s stock worth $157,447,000 after acquiring an additional 1,000,225 shares in the last quarter. Institutional investors and hedge funds own 39.02% of the company’s stock.
About Marathon Digital
Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the blockchain ecosystem and the generation of digital assets 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.