Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives $19.22 Average Target Price from Analysts

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has been assigned an average recommendation of “Hold” from the seven brokerages that are currently 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 two have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $19.22.

Several analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research note on Thursday, June 20th. B. Riley lifted their target price on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research report 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 on the stock in a research report on Friday, August 23rd.

Marathon Digital Stock Performance

MARA stock opened at $15.54 on Thursday. Marathon Digital has a twelve month low of $7.16 and a twelve month high of $34.09. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 7.23 and a beta of 5.51. The business’s fifty day simple moving average is $17.88 and its two-hundred day simple moving average is $18.98. 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 quarterly 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). The company had revenue of $145.14 million during 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 company’s quarterly revenue was up 77.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.13) EPS. Analysts predict that Marathon Digital will post -1.04 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction on 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 in the company, valued at approximately $67,169,451.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Marathon Digital news, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the sale, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at $67,169,451.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital stock in a transaction that occurred on Monday, September 16th. The stock was 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 disclosure for this sale can be found here. Insiders sold 46,212 shares of company stock valued at $726,178 over the last 90 days. Corporate insiders own 1.11% of the company’s stock.

Institutional Trading of Marathon Digital

Hedge funds and other institutional investors have recently made changes to their positions in the business. Beaird Harris Wealth Management LLC grew its stake in Marathon Digital by 121.1% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after buying an additional 695 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new stake in shares of Marathon Digital during the first quarter worth about $90,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Marathon Digital during the first quarter valued at about $105,000. GAMMA Investing LLC raised its position in shares of Marathon Digital by 108.0% in the 2nd quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock valued at $136,000 after purchasing an additional 3,565 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in Marathon Digital by 1,555.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 8,278 shares of the business services provider’s stock worth $164,000 after purchasing an additional 7,778 shares in the last quarter. Hedge funds and other 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.