Marathon Digital Holdings, Inc. (NASDAQ:MARA) Given Consensus Recommendation of “Hold” by Analysts

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have earned an average rating of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $18.3750.

Several brokerages have recently commented on MARA. HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Morgan Stanley cut their price target on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a report on Tuesday, May 19th. Cantor Fitzgerald reduced their price target on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Weiss Ratings lowered shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Finally, Rosenblatt Securities increased their price target on shares of Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, May 1st.

Marathon Digital Stock Performance

Shares of MARA stock opened at $12.62 on Friday. The firm has a 50-day moving average of $11.96 and a 200-day moving average of $10.46. The company has a market cap of $4.81 billion, a P/E ratio of -2.21 and a beta of 5.38. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. Marathon Digital has a one year low of $6.66 and a one year high of $23.45.

Insider Activity at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $9.18, for a total transaction of $252,495.90. Following the completion of the transaction, the chief executive officer owned 4,788,954 shares in the company, valued at approximately $43,962,597.72. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Salman Hassan Khan sold 16,000 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $11.68, for a total transaction of $186,880.00. Following the transaction, the chief financial officer owned 441,066 shares of the company’s stock, valued at approximately $5,151,650.88. The trade was a 3.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 180,855 shares of company stock worth $2,033,654. 0.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Marathon Digital

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Marathon Digital by 9.8% during the third quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock valued at $827,392,000 after purchasing an additional 4,049,979 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in Marathon Digital during the third quarter valued at about $4,643,000. Farallon Capital Management LLC lifted its holdings in Marathon Digital by 338.3% during the third quarter. Farallon Capital Management LLC now owns 3,660,000 shares of the business services provider’s stock valued at $66,832,000 after purchasing an additional 2,825,000 shares during the last quarter. Stevens Capital Management LP lifted its holdings in Marathon Digital by 446.6% during the third quarter. Stevens Capital Management LP now owns 319,549 shares of the business services provider’s stock valued at $5,835,000 after purchasing an additional 261,085 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Marathon Digital during the fourth quarter valued at about $10,201,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

Marathon Digital Company Profile

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.