Marathon Digital Holdings, Inc. (MARA) Stock Sinks As Market Gains: What You Should Know

Marathon Digital Holdings, Inc. (MARA) closed the most recent trading day at $10.87, moving -0.46% from the previous trading session. This change lagged the S&P 500's 0.69% gain on the day. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq lost 0.2%.

Coming into today, shares of the company had lost 17.15% in the past month. In that same time, the Business Services sector lost 12.24%, while the S&P 500 lost 9.94%.

Marathon Digital Holdings, Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.35, down 141.18% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $37.63 million, down 27.22% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$2.38 per share and revenue of $194.2 million. These totals would mark changes of -240% and +29.07%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for Marathon Digital Holdings, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Marathon Digital Holdings, Inc. currently has a Zacks Rank of #3 (Hold).

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Marathon Digital Holdings, Inc. (MARA) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research