HC Wainwright Reaffirms Buy Rating for Marathon Digital (NASDAQ:MARA)

Marathon Digital (NASDAQ:MARA)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a report issued on Thursday, Benzinga reports. They presently have a $27.00 target price on the business services provider’s stock. HC Wainwright’s price objective points to a potential upside of 67.91% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Macquarie assumed coverage on shares of Marathon Digital in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price target for the company. Cantor Fitzgerald assumed coverage on Marathon Digital in a research report on Thursday. They set an “overweight” rating and a $21.00 target price for the company. B. Riley upped their target price 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. dropped their price target on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.79.

Marathon Digital Trading Up 5.6 %

Shares of MARA stock opened at $16.08 on Thursday. Marathon Digital has a 1 year low of $7.55 and a 1 year high of $34.09. The company’s fifty day simple moving average is $16.11 and its two-hundred day simple moving average is $18.50. 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 stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 10.31 and a beta of 5.50.

Marathon Digital (NASDAQ:MARA) last issued its 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 5.15% and a net margin of 62.57%. The company had revenue of $145.14 million during the quarter, compared to the consensus estimate of $157.86 million. During the same quarter in the prior year, the business earned ($0.13) EPS. The firm’s revenue for the quarter was up 77.5% compared to the same quarter last year. As a group, analysts anticipate that Marathon Digital will post -1.06 earnings per share for the current year.

Insider Buying and Selling

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 transaction, the chief executive officer now owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $15.70, for a total value of $262,190.00. Following the sale, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,212 shares of company stock worth $726,178 in the last quarter. 0.97% of the stock is owned by insiders.

Institutional Trading of Marathon Digital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Beaird Harris Wealth Management LLC increased its position in shares of 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 acquiring an additional 695 shares during the period. FinTrust Capital Advisors LLC purchased a new stake in Marathon Digital in the 1st quarter worth approximately $90,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Marathon Digital in the 1st quarter worth approximately $105,000. Tobam increased its stake in shares of Marathon Digital by 173.0% during the third quarter. Tobam now owns 7,701 shares of the business services provider’s stock valued at $125,000 after buying an additional 4,880 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Marathon Digital by 108.0% in the second quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock worth $136,000 after acquiring an additional 3,565 shares during the period. 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.