Marathon Patent Group ($MARA) is a leading IT services company with shares listed in the United States on the NASDAQ. It conducts its business in the technology sector with a concentration on cryptocurrency mining with a focus on the blockchain ecosystem and digital asset generation. Now that Bitcoin is experiencing a rise in value that appears to be continuing, crypto miners are aware of the positive consequences of this development. Because Marathon Patent Group is one of the few NASDAQ listed companies, this could mean a great position in the market.
The stock is up 16.62% this week, with a monthly jump of 339.64% and a quarterly performance of 518.29%, while the annual performance rate reached 91.09%. The single moving average for the past 20 days is 81.38% for the stocks with the single moving average of 277.96% for the last 200 days. The company currently manages a mining capacity of 19 petahash per second. Marathon daily trading volume hit a record high of over $ 225 million on August 3. What are the advisors saying today about the stock, the percentage change and would they buy or sell it?
TradingView – Bullish/Bearish
Within a period of one week to one month, the company recommends buying the stock or, if in possession of the stock, to keep it. For those who want to get rid of the share soon as in today, it’s better to sell the share. This is what’s currently happening with the short traders. Two out of three promotions are a sale in the afternoon. The advice is based on various indicators such as predictive averages, oscillators and pivot points. Final verdict is bullish when you want to invest.
BTC Manager – Bullish
According to BTC Manager, the development of Marathon Patent Group is due to the COVID-19 pandemic. As this global economy is subject to many uncertainties, both private and institutional investors are interested in Bitcoin as a store of value and asset class. In addition, the rising debt crisis in the US continues and the global health crisis is exacerbating. The society is turning back to cryptocurrencies, especially Bitcoin, and hopes for a second Bitcoin bull run. The stock is certainly not depreciated and the chances are considerable for those who want to keep the stock in the portfolio.
Coindesk – Neutral
Advisors previously noted that betting against Bitcoin has been a losing battle for months with cryptos up more than 200% since their March low. In addition, taking advantage of this rally, cryptocurrency mining stocks traded in US markets significantly outperform the benchmark cryptocurrency. Coindesk is on a positive note now and announced early this week that mining stocks are beating Bitcoin in a bullish cryptocurrency market. In particular, Riot Blockchain and Marathon Patent Group are mentioned. In the past year, Bitcoin was up 3%, while these two crypto miners have gained 97% and more than 128 percent respectively in the same year. In the first quarter of 2020, the companies did not appear to be undergoing any significant change, but since mid-April – when COVID-19 hit hard – both have taken off. Coindesk relates the strong performance of Marathon Patent Group to the result of record trade volume.
Gurufocus – Bullish
In a reference to an unknown Wall Street analyst, this stock is recommended for a purchase with the forecast that the stock price will hit the $ 64 target. Interesting information shared is about current fund holders. The leader of the fund holders is Vanguard Group Inc, with 0.66% of the outstanding shares, or 57,647 shares. Subsequently, we see Jim Simons with 0.19% shares outstanding – or 16,100 shares – and Fortress Investment Group LLC with 0.10% shares outstanding – or 8,401 shares.
Investors Observer – Neutral
We end with a neutral score from Investors Observer’s Stock Sentiment Indicator. As indicators they use among other things: the stock sentiment, technical and fundamental factors and a comparison with similar companies. With an overall score of 61, the stock scores above average in its segment. The number indicates it’s 61% higher than the competition. The score is mainly based on sentiment. Sentiment incorporates short-term technical analysis into its score and does not include fundamental analysis such as the company’s profitability. This means that earnings updates and other news can have a major impact on the overall sentiment. The price changes check focuses on whether the stock is bullish or bearish. The variation in volume has also been included. Furthermore, Investors Observer takes into account the ratio of calls to puts for a stock as an investor can bet on future price changes with options.
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