Marathon Digital Holdings, Inc. (NASDAQ:MARA) Short Interest Up 13.0% in April

Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Free Report) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 59,300,000 shares, an increase of 13.0% from the April 15th total of 52,500,000 shares. Based on an average trading volume of 62,720,000 shares, the days-to-cover ratio is presently 0.9 days.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. B. Riley dropped their price objective on shares of Marathon Digital from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. BTIG Research upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, January 17th. Needham & Company LLC reiterated a “hold” rating on shares of Marathon Digital in a research report on Friday, May 10th. Chardan Capital lowered their target price on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Finally, StockNews.com downgraded Marathon Digital from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $19.69.

View Our Latest Stock Report on Marathon Digital

Hedge Funds Weigh In On Marathon Digital

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Marathon Digital by 1.9% during the first quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock valued at $540,002,000 after purchasing an additional 441,455 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Marathon Digital by 29.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock valued at $42,840,000 after acquiring an additional 410,146 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Marathon Digital by 29.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock worth $30,429,000 after acquiring an additional 296,776 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Marathon Digital by 13.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 793,444 shares of the business services provider’s stock worth $18,638,000 after acquiring an additional 95,946 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Marathon Digital by 22.1% during the fourth quarter. Van ECK Associates Corp now owns 659,783 shares of the business services provider’s stock worth $15,499,000 after purchasing an additional 119,470 shares during the period. Institutional investors own 44.53% of the company’s stock.

Marathon Digital Stock Performance

MARA opened at $18.07 on Wednesday. The business has a 50 day moving average price of $19.03 and a two-hundred day moving average price of $18.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 23.07 and a quick ratio of 23.07. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 8.40 and a beta of 5.38. Marathon Digital has a 1-year low of $7.16 and a 1-year high of $34.09.

Marathon Digital (NASDAQ:MARAGet Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.07). The firm had revenue of $156.77 million during the quarter, compared to analyst estimates of $138.15 million. Marathon Digital had a net margin of 106.46% and a negative return on equity of 3.80%. Research analysts predict that Marathon Digital will post -0.05 EPS for the current fiscal year.

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 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.

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