Zacks Investment Research upgraded shares of Marathon Patent Group, Inc. (NASDAQ:MARA) from a hold rating to a buy rating in a research note released on Thursday morning. The brokerage currently has $1.75 target price on the stock.
According to Zacks, “Marathon Patent Group Inc. is a patent and patent rights acquisition and licensing company. The Company acquires patents from a wide-range of patent holders from individual inventors to Fortune 500 companies. It serves its clients through two complementary business units: IP Services and IP Licensing and Enforcement business. Marathon Patent Group, Inc. is based in Alexandria, Virginia. “
Shares of Marathon Patent Group (NASDAQ:MARA) opened at 1.42 on Thursday. The stock’s market cap is $21.40 million. Marathon Patent Group has a 52-week low of $1.40 and a 52-week high of $3.44. The stock’s 50 day moving average is $1.79 and its 200 day moving average is $2.27.
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A hedge fund recently raised its stake in Marathon Patent Group stock. Renaissance Technologies LLC boosted its stake in shares of Marathon Patent Group, Inc. (NASDAQ:MARA) by 263.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 84,000 shares of the company’s stock after buying an additional 60,900 shares during the period. Renaissance Technologies LLC owned about 0.56% of Marathon Patent Group worth $144,000 at the end of the most recent quarter. Institutional investors and hedge funds own 12.50% of the company’s stock.
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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