Marathon Digital Target of Unusually High Options Trading (NASDAQ:MARA)

Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Free Report) was the recipient of unusually large options trading activity on Friday. Investors bought 599,501 call options on the company. This represents an increase of 77% compared to the typical volume of 338,604 call options.

Hedge Funds Weigh In On Marathon Digital

Hedge funds and other institutional investors have recently modified their holdings of the stock. L2 Asset Management LLC bought a new position in shares of Marathon Digital during the third quarter worth $300,000. Geode Capital Management LLC boosted its position in shares of Marathon Digital by 41.1% during 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 during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Marathon Digital by 105.6% during the third quarter. Exchange Traded Concepts LLC now owns 697,498 shares of the business services provider’s stock worth $5,929,000 after acquiring an additional 358,220 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Marathon Digital by 280.6% during the third quarter. Vontobel Holding Ltd. now owns 41,546 shares of the business services provider’s stock worth $353,000 after acquiring an additional 30,631 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Marathon Digital by 17.3% during 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 in the last quarter. Institutional investors own 39.02% of the company’s stock.

Marathon Digital Stock Performance

MARA opened at $23.89 on Friday. The firm has a market cap of $5.32 billion, a P/E ratio of -8.04 and a beta of 5.44. Marathon Digital has a 1-year low of $5.13 and a 1-year high of $31.30. The company has a 50 day simple moving average of $20.15 and a two-hundred day simple moving average of $14.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 11.33 and a quick ratio of 11.33.

Marathon Digital (NASDAQ:MARAGet Free Report) last posted its quarterly earnings results on Wednesday, November 8th. The business services provider reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The firm had revenue of $97.85 million during the quarter, compared to the consensus estimate of $99.60 million. Marathon Digital had a negative return on equity of 8.68% and a negative net margin of 136.97%. Equities analysts forecast that Marathon Digital will post -0.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MARA has been the subject of several research reports. Sanford C. Bernstein initiated coverage on shares of Marathon Digital in a report on Tuesday, October 31st. They set a “market perform” rating and a $8.30 price objective for the company. HC Wainwright boosted their price objective on shares of Marathon Digital from $20.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. BTIG Research raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, January 17th. Finally, StockNews.com cut shares of Marathon Digital from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.76.

Check Out Our Latest Stock Analysis on MARA

Marathon Digital Company Profile

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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.

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