Why Marathon Patent Group, Inc. (MARA) Stock Price Dropped Up To -3.79% Today

Marathon Patent Group, Inc. (NASDAQ:MARA) is a stock to watch today. At current price of $2.54, the shares have already lost -0.1 points (-3.79% lower) from its previous close of $2.64. The stock sets an active trading volume day with a reported 131749 contracts so far this session. MARA shares had a relatively better volume day versus average trading capacity of 592.69 thousand shares, but with a 5.94 million float and a -5.71% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MARA stock indicates that the average analyst price target is $4 per share. This means the stock has a potential increase of 57.48% from where the MARA share price has been trading recently which is between $2.56 and $2.83.

The shorts are climbing into Marathon Patent Group, Inc. (MARA) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in MARA shares. While short interest still represents only 8.38% of MARA’s float, the number of shares shorted have risen by 152572. The number of shares shorted advanced to 650363 shares, up from 497791 shares during the preceding fortnight. With average daily trading volumes at 608856 shares, days to cover decreased to about 2.298236 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “ONE Cannabis Appoints Frank Knuettel As CFO” and dated June 29, 2019.

During the recent trading session for Marathon Patent Group, Inc. (NASDAQ:MARA), the company witnessed their stock drop by $-0.27 over a week and surge $0.43 from the price 20 days ago. When compared to their established 52-week high of $6.24, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/24/18. The recent low of $1.32 stood for a -59.29% since 02/01/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.13 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Marathon Patent Group, Inc., the two-week RSI stands at 46.64. This figure suggests that MARA stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MARA readings is similarly very revealing as it has a stochastic reading of 38.03% at this stage. This figure means that MARA share price today is being neutral.

Technical chart claims that Marathon Patent Group, Inc. (MARA) would settle between $2.79/share to $2.95/share level. However, if the stock price goes below the $2.52 mark, then the market for Marathon Patent Group, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $2.41 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.11. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Northland Capital lifted target price for shares of MARA but were stick to Outperform recommendation for the stock in their opinion released on August 18. The price target has been raised from $11 to $8. ROTH Capital analysts again handed out a Buy recommendation to Marathon Patent Group, Inc. (NASDAQ:MARA) stock but they lifted target price for the shares in a flash note issued to investors on June 12. The target price has been raised from $12 to $9. Analysts at ROTH Capital, made their first call for the equity with a Buy recommendation, according to a research note that dated back to May 01.

Moving on, MARA stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 10.85 while for the average stock in the same group, the multiple is 9.61.