Marathon Digital Holdings, Inc. (NASDAQ:MARA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have been given a consensus recommendation of “Hold” by the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $19.61.

Several equities analysts have weighed in on MARA shares. JPMorgan Chase & Co. dropped their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research note on Thursday, June 20th. Macquarie initiated coverage on shares of Marathon Digital in a research note on Tuesday. They set an “outperform” rating and a $22.00 price objective on the stock. Finally, B. Riley boosted their target price 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.

Insider Activity

In related news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were 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 approximately $33,022,547.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Frederick G. Thiel sold 27,512 shares of the business’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 sale, the chief executive officer now owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 completion of the transaction, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,212 shares of company stock worth $726,178. Corporate insiders own 1.11% of the company’s stock.

Institutional Trading of Marathon Digital

Several hedge funds and other institutional investors have recently made changes to their positions in MARA. Vanguard Group Inc. grew its holdings in Marathon Digital by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock worth $540,002,000 after acquiring an additional 441,455 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Marathon Digital by 261.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock worth $64,249,000 after purchasing an additional 2,340,472 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Marathon Digital by 186.6% in the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock valued at $40,485,000 after purchasing an additional 1,327,969 shares during the period. Principal Financial Group Inc. raised its position in Marathon Digital by 4,394.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock worth $26,892,000 after purchasing an additional 1,324,625 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Marathon Digital by 12.7% during the 2nd quarter. Millennium Management LLC now owns 1,333,856 shares of the business services provider’s stock worth $26,477,000 after buying an additional 149,805 shares during the period. 44.53% of the stock is currently owned by institutional investors.

Marathon Digital Trading Down 1.6 %

Shares of Marathon Digital stock opened at $16.14 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75. The firm has a 50-day moving average of $17.32 and a 200-day moving average of $18.85. Marathon Digital has a 52-week low of $7.16 and a 52-week high of $34.09. The stock has a market cap of $4.75 billion, a PE ratio of 7.51 and a beta of 5.51.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data 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). 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 during the quarter, compared to the consensus estimate of $157.86 million. During the same period in the prior year, the firm earned ($0.13) EPS. The business’s revenue for the quarter was up 77.5% on a year-over-year basis. As a group, sell-side analysts forecast that Marathon Digital will post -1.06 EPS for the current year.

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.