Analysts Set Marathon Digital Holdings, Inc. (NASDAQ:MARA) PT at $21.00

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 stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $20.00.

MARA has been the subject of several recent analyst reports. Morgan Stanley assumed coverage on shares of Marathon Digital in a report on Monday, February 9th. They set an “underweight” rating and a $8.00 price objective for the company. Cantor Fitzgerald decreased their price target on Marathon Digital from $21.00 to $11.00 and set an “overweight” rating for the company in a research note on Friday. Weiss Ratings raised Marathon Digital from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, February 20th. Piper Sandler reduced their target price on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. Finally, Rosenblatt Securities decreased their target price on Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th.

Insiders Place Their Bets

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $10.80, for a total transaction of $297,054.00. Following the completion of the sale, the chief executive officer owned 3,517,566 shares in the company, valued at $37,989,712.80. The trade was a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $11.48, for a total transaction of $398,723.36. Following the completion of the transaction, the chief financial officer owned 248,566 shares in the company, valued at approximately $2,853,537.68. The trade was a 12.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 133,247 shares of company stock valued at $1,325,255. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marathon Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Marathon Digital by 9.8% during the 3rd quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock worth $827,392,000 after purchasing an additional 4,049,979 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Marathon Digital by 8.4% in the second quarter. Bank of New York Mellon Corp now owns 2,286,074 shares of the business services provider’s stock valued at $35,846,000 after purchasing an additional 177,771 shares in the last quarter. Emerald Advisers LLC boosted its position in shares of Marathon Digital by 77.4% in the second quarter. Emerald Advisers LLC now owns 579,571 shares of the business services provider’s stock worth $9,088,000 after buying an additional 252,864 shares during the period. Emerald Mutual Fund Advisers Trust grew its holdings in shares of Marathon Digital by 91.3% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 347,214 shares of the business services provider’s stock valued at $5,444,000 after buying an additional 165,688 shares in the last quarter. Finally, Mizuho Markets Americas LLC acquired a new position in Marathon Digital during the third quarter valued at $5,438,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Marathon Digital Price Performance

MARA stock opened at $9.45 on Thursday. The stock’s 50 day moving average is $9.31 and its two-hundred day moving average is $13.42. Marathon Digital has a 52-week low of $6.66 and a 52-week high of $23.45. The company has a market capitalization of $3.57 billion, a PE ratio of -2.39 and a beta of 5.51. 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 (NASDAQ:MARA) last released its quarterly earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($4.29). The company had revenue of $202.31 million for the quarter, compared to analyst estimates of $250.74 million. Marathon Digital had a negative return on equity of 17.88% and a negative net margin of 144.58%.The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.24 EPS. Analysts predict that Marathon Digital will post -1.04 earnings per share for the current fiscal year.

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.