Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives $22.44 Average PT from Brokerages

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $22.4444.

Several brokerages have recently issued reports on MARA. Piper Sandler decreased their price target on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. JPMorgan Chase & Co. reduced their price objective on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Marathon Digital in a research note on Monday, December 29th. Guggenheim assumed coverage on shares of Marathon Digital in a report on Tuesday, October 21st. They issued a “neutral” rating for the company. Finally, Cantor Fitzgerald reduced their price target on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th.

Marathon Digital Price Performance

MARA stock opened at $9.05 on Friday. The company’s 50-day moving average price is $10.58 and its two-hundred day moving average price is $14.56. The firm has a market cap of $3.42 billion, a P/E ratio of 5.03 and a beta of 5.56. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63. Marathon Digital has a 12 month low of $8.51 and a 12 month high of $23.45.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). The firm had revenue of $252.41 million for the quarter, compared to the consensus estimate of $254.58 million. Marathon Digital had a negative return on equity of 2.59% and a net margin of 100.82%. On average, analysts anticipate that Marathon Digital will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Marathon Digital

In related news, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $11.48, for a total transaction of $398,723.36. Following the sale, the chief financial officer owned 248,566 shares of the company’s stock, valued at $2,853,537.68. This trade represents a 12.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $10.80, for a total value of $297,054.00. Following the sale, the chief executive officer owned 3,517,566 shares in the company, valued at $37,989,712.80. This represents a 0.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 182,979 shares of company stock worth $2,234,934 over the last quarter. Corporate insiders own 0.80% of the company’s stock.

Institutional Trading of Marathon Digital

Hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management increased its stake in shares of Marathon Digital by 2,407.4% in the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after buying an additional 1,300 shares during the period. Fifth Third Bancorp boosted its position in Marathon Digital by 59.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after buying an additional 683 shares during the period. Estabrook Capital Management bought a new stake in Marathon Digital during the 2nd quarter worth approximately $31,000. Bessemer Group Inc. increased its position in Marathon Digital by 56.8% in the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 659 shares during the period. Finally, IFP Advisors Inc raised its stake in shares of Marathon Digital by 375.4% during the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 2,001 shares during the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

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.