Brokerages Set Marathon Digital Holdings, Inc. (NASDAQ:MARA) PT at $19.22

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has been given an average recommendation of “Hold” by the seven analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $19.22.

MARA has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research report on Thursday, June 20th. JPMorgan Chase & Co. reduced their price target on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. Finally, B. Riley increased their price objective on shares of Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, July 12th.

Marathon Digital Stock Performance

Shares of MARA stock opened at $16.07 on Thursday. The business’s fifty day simple moving average is $17.71 and its 200-day simple moving average is $18.91. Marathon Digital has a 12-month low of $7.16 and a 12-month high of $34.09. The company has a market cap of $4.54 billion, a PE ratio of 7.47 and a beta of 5.51. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The company had revenue of $145.14 million for the quarter, compared to analyst estimates of $157.86 million. Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The company’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.13) EPS. Analysts expect that Marathon Digital will post -1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $15.70, for a total value of $262,190.00. Following the transaction, the chief financial officer now directly owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Marathon Digital news, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the sale, the chief executive officer now directly owns 4,278,309 shares in the company, valued at $67,169,451.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $15.70, for a total value of $262,190.00. Following the completion of the sale, the chief financial officer now directly owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,212 shares of company stock valued at $726,178. Insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

A number of institutional investors have recently modified their holdings of the company. Beaird Harris Wealth Management LLC boosted its stake in shares of 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 buying an additional 695 shares during the period. FinTrust Capital Advisors LLC purchased a new stake in shares of Marathon Digital in the first quarter valued at approximately $90,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Marathon Digital during the 1st quarter worth $105,000. GAMMA Investing LLC grew its position in Marathon Digital by 108.0% during the second quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock worth $136,000 after buying an additional 3,565 shares during the period. Finally, Natixis acquired a new stake in shares of Marathon Digital in the 1st quarter worth approximately $177,000. 44.53% of the stock is owned by institutional investors and hedge funds.

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.