Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives $18.78 Consensus Price Target from Analysts

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has earned a consensus rating of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $18.7778.

A number of brokerages have weighed in on MARA. Weiss Ratings raised Marathon Digital from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday. BTIG Research reissued a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research note on Monday, June 1st. Cantor Fitzgerald reduced their target price on shares of Marathon Digital from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Citizens Jmp initiated coverage on Marathon Digital in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $24.00 price target for the company. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $15.00 target price on shares of Marathon Digital in a research report on Friday, August 7th.

Marathon Digital Stock Performance

Shares of Marathon Digital stock opened at $11.18 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of -1.22 and a beta of 5.40. Marathon Digital has a 12 month low of $6.66 and a 12 month high of $23.45. The firm’s fifty day simple moving average is $11.97 and its 200-day simple moving average is $11.02.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($1.77). Marathon Digital had a negative return on equity of 26.05% and a negative net margin of 429.71%.The business had revenue of $174.88 million for the quarter, compared to analyst estimates of $209.44 million. During the same quarter last year, the company posted $1.84 EPS. Marathon Digital’s quarterly revenue was down 26.7% on a year-over-year basis. As a group, equities analysts forecast that Marathon Digital will post -1.24 earnings per share for the current year.

Insider Transactions at Marathon Digital

In other news, CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $9.21, for a total transaction of $147,360.00. Following the completion of the sale, the chief financial officer owned 377,066 shares in the company, valued at approximately $3,472,777.86. The trade was a 4.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 8,376 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $12.00, for a total transaction of $100,512.00. Following the completion of the sale, the general counsel directly owned 898,780 shares of the company’s stock, valued at $10,785,360. The trade was a 0.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 109,386 shares of company stock worth $1,332,889 over the last 90 days. Company insiders own 0.97% of the company’s stock.

Institutional Trading of Marathon Digital

Several large investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC grew its stake in Marathon Digital by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock valued at $127,000 after purchasing an additional 991 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Marathon Digital by 65.3% during the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock worth $88,000 after purchasing an additional 3,032 shares during the last quarter. United Services Automobile Association boosted its holdings in shares of Marathon Digital by 8.2% in the 1st quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock valued at $257,000 after buying an additional 1,569 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Marathon Digital by 11.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider’s stock valued at $7,398,000 after purchasing an additional 63,903 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in Marathon Digital in the second quarter worth $183,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.