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

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have been given a consensus rating of “Hold” by the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $21.11.

Several research firms recently commented on MARA. JPMorgan Chase & Co. increased their price objective on Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a research note on Wednesday, April 10th. Chardan Capital upped their price target on Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, January 17th. HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Marathon Digital in a report on Tuesday, March 19th. Finally, StockNews.com upgraded Marathon Digital from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd.

Institutional Investors Weigh In On Marathon Digital

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc boosted its position in shares of Marathon Digital by 752.3% in the 4th quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 1,467 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Marathon Digital during the 4th quarter worth $61,000. GAMMA Investing LLC purchased a new position in Marathon Digital during the 4th quarter worth $75,000. IFP Advisors Inc increased its stake in Marathon Digital by 48.2% in the third quarter. IFP Advisors Inc now owns 9,272 shares of the business services provider’s stock valued at $79,000 after purchasing an additional 3,017 shares during the period. Finally, Xponance Inc. purchased a new stake in shares of Marathon Digital in the third quarter valued at about $86,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Stock Up 2.2 %

MARA stock opened at $19.43 on Monday. Marathon Digital has a 52 week low of $7.16 and a 52 week high of $34.09. The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20. The firm has a 50-day simple moving average of $20.96 and a 200-day simple moving average of $17.95. The stock has a market capitalization of $5.20 billion, a P/E ratio of 23.13 and a beta of 5.36.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). The firm had revenue of $156.77 million for the quarter, compared to analysts’ expectations of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. Equities analysts forecast that Marathon Digital will post -0.04 earnings per share for the current fiscal year.

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.