Brokerages Set Marathon Digital Holdings, Inc. (NASDAQ:MARA) Price Target at $19.79

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have been assigned an average recommendation of “Hold” from the nine research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $19.79.

Several equities research analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Thursday, October 10th. Macquarie initiated coverage on shares of Marathon Digital in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. Cantor Fitzgerald started coverage on shares of Marathon Digital in a report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 target price 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 note on Friday, July 12th.

Insider Buying and Selling at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction on Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the transaction, the chief executive officer now owns 4,278,309 shares in the company, valued at $67,169,451.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the firm’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 sale, the chief financial officer now owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction that occurred on Friday, September 20th. The shares were 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 in the company, valued at $67,169,451.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,212 shares of company stock valued at $742,948. 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 modified their holdings of MARA. Rhumbline Advisers increased its stake in Marathon Digital by 126.5% in the 2nd quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock worth $15,615,000 after buying an additional 439,309 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in shares of Marathon Digital in the second quarter worth about $4,498,000. Public Sector Pension Investment Board purchased a new stake in shares of Marathon Digital during the second quarter worth about $11,920,000. Second Line Capital LLC bought a new stake in Marathon Digital during the 2nd quarter valued at approximately $4,060,000. Finally, American International Group Inc. lifted its holdings in 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 worth $2,495,000 after purchasing an additional 4,593 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

Marathon Digital Price Performance

Shares of MARA opened at $18.08 on Monday. Marathon Digital has a twelve month low of $7.63 and a twelve month high of $34.09. The company has a market capitalization of $5.11 billion, a P/E ratio of 8.41 and a beta of 5.50. The firm has a 50 day moving average of $16.11 and a 200 day moving average of $18.38. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates 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 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 previous year, the business posted ($0.13) EPS. The firm’s revenue for the quarter was up 77.5% on a year-over-year basis. As a group, equities research analysts anticipate that Marathon Digital will post -1.06 earnings per share for the current fiscal 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.