Marathon Digital Holdings, Inc. (NASDAQ:MARA) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $22.4444.

A number of analysts have commented on the stock. Piper Sandler dropped their price target on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Marathon Digital in a report on Monday, December 29th. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Monday, November 24th. Guggenheim initiated coverage on Marathon Digital in a research report on Tuesday, October 21st. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. cut their price objective on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, November 24th.

Marathon Digital Trading Down 18.7%

NASDAQ:MARA opened at $6.73 on Friday. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 3.74 and a beta of 5.56. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.09 and a current ratio of 2.09. Marathon Digital has a 1 year low of $6.66 and a 1 year high of $23.45. The business has a fifty day moving average of $10.43 and a 200-day moving average of $14.46.

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

Insider Buying and Selling at Marathon Digital

In related news, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $11.48, for a total transaction of $398,723.36. Following the completion of the sale, the chief financial officer directly owned 248,566 shares of the company’s stock, valued at $2,853,537.68. This represents a 12.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $10.80, for a total transaction of $297,054.00. Following the sale, the chief executive officer owned 3,517,566 shares of the company’s stock, valued at $37,989,712.80. The trade was a 0.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 178,092 shares of company stock valued at $2,153,321. 0.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Marathon Digital

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS Group AG grew its holdings in shares of Marathon Digital by 104.1% in the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after acquiring an additional 6,172,110 shares during the last quarter. Marex Group plc acquired a new position in shares of Marathon Digital in the 2nd quarter valued at $84,301,000. Voloridge Investment Management LLC purchased a new position in Marathon Digital in the 3rd quarter worth about $93,066,000. Vanguard Group Inc. raised its holdings 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 buying an additional 4,049,979 shares during the period. Finally, Norges Bank acquired a new stake in Marathon Digital during the 2nd quarter worth about $59,255,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

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.