Marathon Patent Group Inc. (MARA) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the services sector during morning trading on September 23. At the lunch break, shares of MARA have tacked on 3.3% to $2.82 after closing the day prior at $2.73. In the first two and a half hours of trading, the stock has gone as high as $2.82 and as low as $2.71. Today’s rise has come with about 1,000 shares changing hands, compared to an average 30-day volume of 46,898 for Marathon Patent Group Inc.. The price is currently below the 30-day volume weighted average price of $2.75 for MARA.
The share appreciation gives the company a market capitalization of $41.08 million based upon 15.05 million shares outstanding. It also means that MARA has a price-to-book ratio of 2.28:1.
In the past 52 weeks, shares of MARA have traded as low as $1.29 and as high as $3.44. Technical traders will take note that at $2.82, shares of MARA are trading above their 200-day MA at $2.29 and below their 50-day MA at $2.94. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is MARA?
Marathon Patent Group Inc is a patent and patent rights acquisition and licensing company. The Company acquires patents and patent rights from their owners including individual inventors to Fortune 500 companies. The company’s 6 employees are led by CEO Douglas B. Croxall from the corporate headquarters at 11100 Santa Monica Boulevard in Los Angeles, CA.
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