Marathon Digital (NASDAQ:MARA) Coverage Initiated by Analysts at Macquarie

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

MARA has been the topic of several other research reports. B. Riley boosted 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. JPMorgan Chase & Co. cut their price target on shares of 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, 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $19.61.

Marathon Digital Trading Down 1.3 %

Shares of MARA stock opened at $17.29 on Tuesday. The company has a 50-day moving average of $17.04 and a two-hundred day moving average of $18.81. The firm has a market cap of $4.89 billion, a PE ratio of 8.04 and a beta of 5.51. Marathon Digital has a 1-year low of $7.16 and a 1-year high of $34.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data 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). The company had revenue of $145.14 million for the quarter, compared to analysts’ expectations of $157.86 million. Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The business’s revenue for the quarter was up 77.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.13) EPS. On average, analysts predict that Marathon Digital will post -1.06 EPS for the current year.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the business’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 owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the firm’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 sale, 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 legal filing with the SEC, which can be accessed through this link. Also, CEO Frederick G. Thiel sold 27,512 shares of the company’s 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 directly owns 4,278,309 shares of the company’s stock, valued at $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 quarter. Corporate insiders own 1.11% of the company’s stock.

Institutional Trading of Marathon Digital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its holdings in shares of Marathon Digital by 126.5% in the 2nd quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock valued at $15,615,000 after purchasing an additional 439,309 shares during the last quarter. Public Sector Pension Investment Board purchased a new stake in Marathon Digital in the second quarter valued at approximately $11,920,000. Vima LLC acquired a new stake in shares of Marathon Digital in the fourth quarter valued at approximately $949,000. Virtu Financial LLC purchased a new position in shares of Marathon Digital during the fourth quarter worth approximately $1,629,000. Finally, American International Group Inc. increased its holdings in shares of Marathon Digital by 4.3% in the 1st quarter. American International Group Inc. now owns 110,489 shares of the business services provider’s stock valued at $2,495,000 after acquiring an additional 4,593 shares during the period. Institutional investors and hedge funds 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.