Fri Sep 20 12:36:08 UTC 2024: ## Marathon Digital Holdings Shares Rise Slightly Despite Mixed Analyst Opinions

**Fort Lauderdale, FL** – Shares of Marathon Digital Holdings, Inc. (NASDAQ: MARA) closed up 0.8% on Wednesday, despite a recent wave of mixed research reports from analysts.

The stock reached a high of $16.05 during the day, before settling at $15.99. Trading volume was significantly lower than average, with only 5,728,445 shares changing hands. This represents a 90% decrease from the typical daily volume.

Recent analyst activity has seen a range of opinions on MARA. JPMorgan Chase & Co. downgraded the stock to “underweight” and lowered its price target to $12.00, while B. Riley maintained a “neutral” rating and increased its target to $20.00. HC Wainwright remains bullish, reiterating its “buy” rating with a $27.00 target.

Overall, the stock currently holds a “hold” consensus rating with a target price of $19.22, according to MarketBeat data.

Marathon Digital’s recent quarterly earnings report, released on August 1st, showed a loss of $0.72 per share, missing analyst expectations by a significant margin. Revenue for the quarter came in at $145.14 million, also falling short of estimates. Despite the negative earnings, the company experienced a substantial year-over-year revenue growth of 77.5%.

Institutional investors have been active in MARA’s stock, with several adjusting their holdings in recent months. Rhumbline Advisers significantly increased their stake, while Vima LLC, Virtu Financial LLC, Victory Capital Management Inc., and American International Group Inc. all made notable purchases.

Marathon Digital Holdings, Inc. operates as a digital asset technology company focusing on bitcoin mining. The company was formerly known as Marathon Patent Group, Inc. and changed its name in February 2021.

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