Marathon Patent Group, Inc. (MARA) Shares Down 5.6%

Marathon Patent Group, Inc. (NASDAQ:MARA) shares dropped 5.6% on Tuesday . The company traded as low as $0.34 and last traded at $0.34. Approximately 907,728 shares traded hands during trading, a decline of 74% from the average daily volume of 3,515,350 shares. The stock had previously closed at $0.36.

Separately, Zacks Investment Research downgraded Marathon Patent Group from a “buy” rating to a “hold” rating in a report on Thursday, June 1st.

The firm has a 50-day moving average price of $0.32 and a 200-day moving average price of $0.50. The stock’s market cap is $8.30 million.

Marathon Patent Group (NASDAQ:MARA) last posted its quarterly earnings results on Monday, August 14th. The business services provider reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. Marathon Patent Group had a negative net margin of 5,770.02% and a negative return on equity of 1,139.06%. The firm had revenue of $0.37 million during the quarter, compared to the consensus estimate of $0.50 million. Analysts expect that Marathon Patent Group, Inc. will post $0.11 earnings per share for the current fiscal year.

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About Marathon Patent Group

Marathon Patent Group Inc (MARA) is engaged in acquiring patents and patent rights from owners or other ventures. The Company monetizes its portfolio of patents and patent rights by entering into license discussions. The Company owns around 378 United States and foreign patents, and patent rights across a range of technologies and markets.

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