Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives Consensus Rating of “Hold” from Analysts

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has earned a consensus rating of “Hold” from the eight research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $19.61.

A number of brokerages have issued reports on MARA. StockNews.com cut Marathon Digital from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. B. Riley lifted their price objective on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, July 12th. HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a report on Thursday, June 20th. JPMorgan Chase & Co. cut their price objective on Marathon Digital from $16.50 to $14.00 and set an “underweight” rating for the company in a report on Tuesday, June 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Marathon Digital in a report on Friday, May 10th.

Marathon Digital Stock Up 1.8 %

MARA opened at $17.25 on Wednesday. Marathon Digital has a fifty-two week low of $7.16 and a fifty-two week high of $34.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 23.07 and a quick ratio of 23.07. The firm’s fifty day moving average price is $20.48 and its two-hundred day moving average price is $20.45. The company has a market capitalization of $4.88 billion, a P/E ratio of 8.02 and a beta of 5.56.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates 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 business 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 firm earned ($0.13) EPS. The firm’s quarterly revenue was up 77.5% on a year-over-year basis. On average, analysts anticipate that Marathon Digital will post -1.11 EPS for the current year.

Insider Buying and Selling

In related news, Director Said Ouissal sold 10,217 shares of the company’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 transaction, the director now owns 60,046 shares in the company, valued at approximately $1,230,943. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MARA. Global Retirement Partners LLC increased its stake in shares of Marathon Digital by 7.7% in the 1st quarter. Global Retirement Partners LLC now owns 9,152 shares of the business services provider’s stock valued at $207,000 after acquiring an additional 658 shares during the last quarter. Beaird Harris Wealth Management LLC increased its stake in shares of Marathon Digital by 121.1% in the 1st 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 last quarter. Ameritas Investment Partners Inc. increased its stake in shares of 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 valued at $505,000 after acquiring an additional 881 shares during the last quarter. Intrepid Financial Planning Group LLC increased its stake in shares of Marathon Digital by 4.1% in the 4th 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 last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of Marathon Digital by 2.1% in the 1st 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 and hedge funds.

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.