Marathon Digital (NASDAQ:MARA) Stock Rating Reaffirmed by HC Wainwright

Marathon Digital (NASDAQ:MARA)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They currently have a $27.00 target price on the business services provider’s stock. HC Wainwright’s target price would indicate a potential upside of 67.91% from the company’s current price.

Several other brokerages have also issued reports on MARA. Macquarie initiated coverage on Marathon Digital in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price target on the stock. JPMorgan Chase & Co. cut their target price on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Cantor Fitzgerald assumed coverage on shares of Marathon Digital in a research report on Thursday. They issued an “overweight” rating and a $21.00 price target for the company. Finally, B. Riley upped their price objective on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.79.

Marathon Digital Stock Performance

MARA stock opened at $16.08 on Thursday. The firm has a market cap of $4.74 billion, a PE ratio of 10.31 and a beta of 5.50. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $16.11 and a 200-day moving average price of $18.50. Marathon Digital has a 1-year low of $7.55 and a 1-year high of $34.09.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.49). The business had revenue of $145.14 million for the quarter, compared to analyst estimates of $157.86 million. Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The company’s revenue for the quarter was up 77.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.13) EPS. As a group, equities research analysts expect that Marathon Digital will post -1.06 earnings per share for the current year.

Insider Buying and Selling at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,512 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the sale, the chief executive officer now owns 4,278,309 shares in the company, valued at $67,169,451.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the transaction, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the transaction, the chief executive officer now owns 4,278,309 shares in the company, valued at $67,169,451.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,212 shares of company stock worth $726,178. Corporate insiders own 0.97% of the company’s stock.

Institutional Trading of Marathon Digital

A number of hedge funds have recently bought and sold shares of MARA. Beaird Harris Wealth Management LLC grew its stake in Marathon Digital by 121.1% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 695 shares during the period. Ranch Capital Advisors Inc. increased its holdings in Marathon Digital by 6.1% during the second quarter. Ranch Capital Advisors Inc. now owns 13,532 shares of the business services provider’s stock worth $269,000 after buying an additional 780 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in Marathon Digital by 4.1% in the first quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock worth $505,000 after acquiring an additional 881 shares during the period. Commonwealth Equity Services LLC boosted its stake in Marathon Digital by 2.1% in the first quarter. Commonwealth Equity Services LLC now owns 70,974 shares of the business services provider’s stock valued at $1,603,000 after acquiring an additional 1,430 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its holdings in shares of Marathon Digital by 2.9% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 66,561 shares of the business services provider’s stock worth $1,321,000 after purchasing an additional 1,845 shares during the period. 44.53% of the stock is currently owned by institutional investors.

Marathon Digital Company Profile

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.