Analysts Set Marathon Digital Holdings, Inc. (NASDAQ:MARA) Target Price at $18.50

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has received a consensus recommendation of “Hold” from the eleven research firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $18.50.

Several brokerages recently issued reports on MARA. Cantor Fitzgerald dropped their target price on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Weiss Ratings cut shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday. Rosenblatt Securities raised their target price on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Morgan Stanley assumed coverage on shares of Marathon Digital in a report on Monday, February 9th. They issued an “underweight” rating and a $8.00 target price on the stock. Finally, HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th.

Marathon Digital Trading Down 6.4%

Shares of MARA stock opened at $12.44 on Tuesday. Marathon Digital has a 12-month low of $6.66 and a 12-month high of $23.45. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 0.99. The firm’s 50 day moving average is $10.17 and its 200 day moving average is $10.70. The stock has a market capitalization of $4.74 billion, a P/E ratio of -2.17 and a beta of 5.41.

Marathon Digital (NASDAQ:MARA) last issued its earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($4.29). Marathon Digital had a negative return on equity of 23.20% and a negative net margin of 234.83%.The company had revenue of $202.31 million during the quarter, compared to analysts’ expectations of $250.74 million. During the same quarter in the prior year, the business posted $1.24 EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. Research analysts expect that Marathon Digital will post -1.67 earnings per share for the current year.

Insiders Place Their Bets

In other Marathon Digital news, General Counsel Zabi Nowaid sold 42,090 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $12.00, for a total value of $505,080.00. Following the transaction, the general counsel directly owned 1,007,047 shares in the company, valued at approximately $12,084,564. This trade represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was 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 owned 4,788,954 shares in the company, valued at $43,962,597.72. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 172,605 shares of company stock worth $1,745,843. Company insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MARA. Vanguard Group Inc. raised its position in shares of 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 valued at $827,392,000 after purchasing an additional 4,049,979 shares during the period. Mizuho Markets Americas LLC bought a new stake in shares of Marathon Digital during the 3rd quarter valued at $5,438,000. WINTON GROUP Ltd bought a new stake in shares of Marathon Digital during the 3rd quarter valued at $4,643,000. Farallon Capital Management LLC raised its position in shares of Marathon Digital by 338.3% during the 3rd quarter. Farallon Capital Management LLC now owns 3,660,000 shares of the business services provider’s stock valued at $66,832,000 after purchasing an additional 2,825,000 shares during the period. Finally, Stevens Capital Management LP raised its position in shares of Marathon Digital by 446.6% during the 3rd quarter. Stevens Capital Management LP now owns 319,549 shares of the business services provider’s stock valued at $5,835,000 after purchasing an additional 261,085 shares during the period. 44.53% of the stock is currently owned by institutional investors.

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.