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

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have been assigned a consensus rating of “Hold” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $19.79.

MARA has been the subject of a number of research reports. Cantor Fitzgerald initiated coverage on shares of Marathon Digital in a research report on Thursday, October 10th. They set an “overweight” rating and a $21.00 target price for the company. B. Riley lifted their target price on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Macquarie started coverage on shares of Marathon Digital in a research report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd.

Marathon Digital Stock Up 4.8 %

Shares of NASDAQ MARA opened at $18.88 on Monday. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13. Marathon Digital has a 52 week low of $7.63 and a 52 week high of $34.09. The firm has a 50-day moving average price of $16.20 and a 200 day moving average price of $18.36. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 8.78 and a beta of 5.50.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data 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). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The company had revenue of $145.14 million during the quarter, compared to analyst estimates of $157.86 million. During the same quarter last year, the business earned ($0.13) EPS. The firm’s revenue for the quarter was up 77.5% on a year-over-year basis. Equities research analysts anticipate that Marathon Digital will post -1.06 EPS for the current fiscal year.

Insider Activity at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $481,337.50. Following the completion of the sale, the chief executive officer now directly owns 4,250,804 shares in the company, valued at approximately $74,389,070. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $292,250.00. Following the transaction, the chief financial officer now directly owns 2,077,232 shares of the company’s stock, valued at $36,351,560. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $481,337.50. Following the transaction, the chief executive officer now directly owns 4,250,804 shares in the company, valued at approximately $74,389,070. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,417 shares of company stock worth $1,516,536. 1.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MARA. Beaird Harris Wealth Management LLC lifted its position in shares of Marathon Digital by 121.1% during the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after purchasing an additional 695 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new position in shares of Marathon Digital during the first quarter worth $90,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Marathon Digital during the first quarter worth $105,000. Tobam lifted its position in shares of Marathon Digital by 173.0% during the third quarter. Tobam now owns 7,701 shares of the business services provider’s stock worth $125,000 after purchasing an additional 4,880 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 3,565 shares in the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

About Marathon Digital

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.