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

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has received an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $22.4444.

A number of analysts have recently issued reports on the company. Cantor Fitzgerald dropped their target price on Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Marathon Digital in a research report on Monday, December 29th. Guggenheim began coverage on shares of Marathon Digital in a research note on Tuesday, October 21st. They set a “neutral” rating on the stock. Piper Sandler dropped their target price on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Rosenblatt Securities reduced their price target on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th.

Marathon Digital Trading Up 2.1%

Shares of MARA stock opened at $11.18 on Wednesday. Marathon Digital has a fifty-two week low of $8.95 and a fifty-two week high of $23.45. The firm’s 50 day moving average price is $11.40 and its two-hundred day moving average price is $15.39. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 6.12 and a beta of 5.34. 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 announced its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) 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 net margin of 100.82% and a negative return on equity of 2.59%. On average, analysts anticipate that Marathon Digital will post -1.04 EPS for the current year.

Insiders Place Their Bets

In other Marathon Digital news, General Counsel Zabi Nowaid sold 25,113 shares of Marathon Digital stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $15.87, for a total value of $398,543.31. Following the completion of the transaction, the general counsel directly owned 723,136 shares in the company, valued at $11,476,168.32. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $10.77, for a total value of $296,228.85. Following the transaction, the chief executive officer owned 3,555,489 shares of the company’s stock, valued at $38,292,616.53. This represents a 0.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 182,979 shares of company stock valued at $2,476,153. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Marathon Digital

Several institutional investors have recently modified their holdings of MARA. Hollencrest Capital Management lifted its position in Marathon Digital by 2,407.4% in the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 1,300 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Marathon Digital by 56.8% during the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after buying an additional 659 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Marathon Digital by 59.9% during the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after buying an additional 683 shares during the period. Estabrook Capital Management acquired a new stake in Marathon Digital in the 2nd quarter valued at approximately $31,000. Finally, Salomon & Ludwin LLC bought a new stake in shares of Marathon Digital during the third quarter valued at about $47,000. Institutional investors own 44.53% of the company’s stock.

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.