Brokerages Set Marathon Digital Holdings, Inc. (NASDAQ:MARA) PT at $19.61

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has received a consensus rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $19.61.

Several equities research analysts recently commented on MARA shares. Needham & Company LLC reiterated a “hold” rating on shares of Marathon Digital in a research note on Friday, May 10th. JPMorgan Chase & Co. lowered their price objective on shares of Marathon Digital from $16.50 to $14.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 4th. HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research report on Thursday, June 20th. Chardan Capital lowered their price objective on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Finally, B. Riley raised their price objective on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th.

Marathon Digital Trading Up 1.8 %

Shares of NASDAQ:MARA opened at $17.25 on Wednesday. Marathon Digital has a 52 week low of $7.16 and a 52 week high of $34.09. The company’s 50 day moving average is $20.48 and its two-hundred day moving average is $20.45. The company has a current ratio of 23.07, a quick ratio of 23.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $4.88 billion, a PE ratio of 8.02 and a beta of 5.56.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a negative return on equity of 5.86% and a net margin of 62.57%. The company had revenue of $145.14 million for the quarter, compared to analyst estimates of $157.86 million. During the same quarter in the prior year, the business earned ($0.13) earnings per share. Marathon Digital’s revenue was up 77.5% compared to the same quarter last year. Equities analysts predict that Marathon Digital will post -1.11 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Said Ouissal sold 10,217 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $20.50, for a total transaction of $209,448.50. Following the sale, the director now owns 60,046 shares of the company’s stock, valued at $1,230,943. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.11% of the company’s stock.

Institutional Trading of Marathon Digital

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Marathon Digital by 5.7% during the third quarter. Vanguard Group Inc. now owns 18,523,195 shares of the business services provider’s stock worth $157,447,000 after buying an additional 1,000,225 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Marathon Digital by 29.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock worth $42,840,000 after acquiring an additional 410,146 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Marathon Digital by 29.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock worth $30,429,000 after acquiring an additional 296,776 shares during the last quarter. Vima LLC acquired a new position in Marathon Digital during the fourth quarter worth about $949,000. Finally, Virtu Financial LLC acquired a new position in Marathon Digital during the fourth quarter worth about $1,629,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Company Profile

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.