Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Rating) hit a new 52-week low on Friday after BTIG Research lowered their price target on the stock from $50.00 to $16.00. BTIG Research currently has a buy rating on the stock. Marathon Digital traded as low as $8.41 and last traded at $8.52, with a volume of 227633 shares changing hands. The stock had previously closed at $9.34.
A number of other equities analysts also recently commented on MARA. Zacks Investment Research upgraded Marathon Digital from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 24th. Compass Point boosted their target price on Marathon Digital from $54.00 to $66.00 and gave the stock a “na” rating in a report on Tuesday, May 24th. Finally, B. Riley dropped their target price on shares of Marathon Digital from $57.00 to $36.00 in a report on Thursday, May 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $45.29.
In related news, Director Kevin A. Denuccio acquired 15,424 shares of the business’s stock in a transaction dated Thursday, May 12th. The stock was bought at an average price of $9.63 per share, with a total value of $148,533.12. Following the acquisition, the director now owns 99,999 shares in the company, valued at approximately $962,990.37. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.62% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC boosted its stake in Marathon Digital by 13.4% during the third quarter. HighTower Advisors LLC now owns 42,056 shares of the business services provider’s stock worth $1,322,000 after acquiring an additional 4,974 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Marathon Digital by 887.7% during the 3rd quarter. Wellington Management Group LLP now owns 371,365 shares of the business services provider’s stock valued at $11,727,000 after acquiring an additional 333,767 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Marathon Digital by 17.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 112,841 shares of the business services provider’s stock valued at $3,708,000 after purchasing an additional 17,147 shares in the last quarter. Morgan Stanley boosted its stake in shares of Marathon Digital by 43.2% in the 3rd quarter. Morgan Stanley now owns 934,919 shares of the business services provider’s stock valued at $29,525,000 after purchasing an additional 282,177 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Marathon Digital by 871.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,417,438 shares of the business services provider’s stock worth $46,577,000 after acquiring an additional 1,271,500 shares during the last quarter. 39.93% of the stock is currently owned by hedge funds and other institutional investors.
The business has a 50 day moving average of $17.46 and a 200 day moving average of $26.94. The company has a debt-to-equity ratio of 0.94, a current ratio of 40.00 and a quick ratio of 40.00. The company has a market cap of $912.14 million, a PE ratio of -6.44 and a beta of 4.70.
Marathon Digital (NASDAQ:MARA – Get Rating) last issued its quarterly earnings data on Tuesday, March 1st. The business services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Marathon Digital had a negative net margin of 68.64% and a positive return on equity of 19.68%. The company had revenue of $60.28 million for the quarter, compared to the consensus estimate of $60.23 million. Sell-side analysts forecast that Marathon Digital Holdings, Inc. will post 0.88 EPS for the current fiscal year.
Marathon Digital Company Profile (NASDAQ:MARA)
Marathon Digital Holdings, Inc operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States. As of December 31, 2021, it had approximately 8,115 bitcoins, which included the 4,794 bitcoins held in the investment fund.
