Marathon Digital (NASDAQ:MARA) Earns Outperform Rating from Analysts at Macquarie

Macquarie started coverage on shares of Marathon Digital (NASDAQ:MARA) in a research report report published on Tuesday, Marketbeat reports. The firm issued an outperform rating and a $22.00 price target on the business services provider’s stock.

A number of other research firms also recently weighed in on MARA. HC Wainwright restated a buy rating and issued a $27.00 target price on shares of Marathon Digital in a report on Thursday, June 20th. B. Riley boosted their price objective on Marathon Digital from $18.00 to $20.00 and gave the stock a neutral rating in a research note on Friday, July 12th. Finally, JPMorgan Chase & Co. lowered their price objective on Marathon Digital from $14.00 to $12.00 and set an underweight rating for the company in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $19.61.

Marathon Digital Stock Down 1.3 %

Shares of MARA stock opened at $17.29 on Tuesday. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 8.04 and a beta of 5.51. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75. The company’s fifty day moving average price is $17.04 and its 200-day moving average price is $18.81. Marathon Digital has a one year low of $7.16 and a one year high of $34.09.

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

Insider Transactions at Marathon Digital

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

Hedge Funds Weigh In On Marathon Digital

Institutional investors have recently modified their holdings of the stock. Beaird Harris Wealth Management LLC raised its stake in shares of Marathon Digital by 121.1% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after buying an additional 695 shares during the period. FinTrust Capital Advisors LLC acquired a new position in Marathon Digital in the 1st quarter valued at about $90,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Marathon Digital in the 1st quarter valued at approximately $105,000. GAMMA Investing LLC increased its holdings in shares of Marathon Digital by 108.0% during the 2nd quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock worth $136,000 after buying an additional 3,565 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of Marathon Digital by 1,555.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 8,278 shares of the business services provider’s stock valued at $164,000 after buying an additional 7,778 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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.