Brokerages Set Marathon Digital Holdings, Inc. (NASDAQ:MARA) Target Price at $20.00

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have been given a consensus recommendation of “Hold” by the twelve ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $20.00.

Several equities analysts have weighed in on the company. HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Weiss Ratings cut Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, March 6th. Piper Sandler lowered their target price on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. Morgan Stanley initiated coverage on shares of Marathon Digital in a report on Monday, February 9th. They issued an “underweight” rating and a $8.00 target price for the company. Finally, Cantor Fitzgerald reduced their price target on shares of Marathon Digital from $21.00 to $11.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th.

Marathon Digital Stock Up 0.4%

Shares of MARA stock opened at $8.28 on Monday. The company’s fifty day simple moving average is $8.89 and its two-hundred day simple moving average is $12.61. Marathon Digital has a 52 week low of $6.66 and a 52 week high of $23.45. The stock has a market cap of $3.15 billion, a P/E ratio of -2.09 and a beta of 5.51. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.92.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data 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 firm had revenue of $202.31 million for the quarter, compared to analysts’ expectations of $250.74 million. Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.24 EPS. Analysts predict that Marathon Digital will post -1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Salman Hassan Khan sold 16,000 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 value of $146,880.00. Following the completion of the transaction, the chief financial officer owned 343,165 shares of the company’s stock, valued at approximately $3,150,254.70. This trade represents a 4.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 directly owned 4,788,954 shares of the company’s stock, valued at approximately $43,962,597.72. The trade was a 0.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 114,515 shares of company stock valued at $1,029,678 over the last three months. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Marathon Digital by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock valued at $419,422,000 after purchasing an additional 1,394,559 shares during the last quarter. State Street Corp boosted its holdings in shares of Marathon Digital by 1.4% in the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock worth $210,977,000 after purchasing an additional 191,380 shares during the period. UBS Group AG increased its position in shares of Marathon Digital by 104.1% during the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock valued at $220,922,000 after purchasing an additional 6,172,110 shares during the last quarter. Marex Group plc raised its holdings in Marathon Digital by 2.6% during the 4th quarter. Marex Group plc now owns 10,137,713 shares of the business services provider’s stock valued at $91,037,000 after buying an additional 259,210 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Marathon Digital by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock valued at $89,434,000 after buying an additional 251,674 shares during the period. 44.53% of the stock is owned by institutional investors.

About Marathon Digital

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.