Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives $19.22 Consensus PT from Brokerages

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has been given an average rating of “Hold” by the eight analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $19.61.

A number of brokerages have commented on MARA. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research note on Thursday, June 20th. Macquarie initiated coverage on Marathon Digital in a research note on Tuesday. They set an “outperform” rating and a $22.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Finally, B. Riley increased their price target on shares of Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 12th.

Marathon Digital Trading Down 1.6 %

MARA opened at $16.14 on Thursday. Marathon Digital has a twelve month low of $7.16 and a twelve month high of $34.09. The company has a fifty day moving average of $17.32 and a 200-day moving average of $18.85. The stock has a market cap of $4.75 billion, a PE ratio of 7.51 and a beta of 5.51. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The business had revenue of $145.14 million for the quarter, compared to the consensus estimate of $157.86 million. Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. Marathon Digital’s quarterly revenue was up 77.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.13) earnings per share. On average, sell-side analysts predict that Marathon Digital will post -1.06 EPS for the current year.

Insider Buying and Selling at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,512 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the transaction, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at $67,169,451.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the transaction, the chief financial officer now directly owns 2,103,347 shares in the company, valued at $33,022,547.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the transaction, the chief executive officer now directly owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. The disclosure for this sale can be found here. Insiders have sold 46,212 shares of company stock valued at $726,178 in the last 90 days. 1.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Beaird Harris Wealth Management LLC lifted its position in Marathon Digital by 121.1% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 695 shares during the last quarter. Ranch Capital Advisors Inc. boosted its position in Marathon Digital by 6.1% during the 2nd quarter. Ranch Capital Advisors Inc. now owns 13,532 shares of the business services provider’s stock valued at $269,000 after buying an additional 780 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Marathon Digital by 4.1% in the 1st quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock worth $505,000 after acquiring an additional 881 shares during the last quarter. Intrepid Financial Planning Group LLC increased its position in shares of Marathon Digital by 4.1% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider’s stock valued at $555,000 after acquiring an additional 930 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in shares of Marathon Digital by 2.1% during the first quarter. Commonwealth Equity Services LLC now owns 70,974 shares of the business services provider’s stock valued at $1,603,000 after acquiring an additional 1,430 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors.

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.