Guggenheim Begins Coverage on Marathon Digital (NASDAQ:MARA)

Analysts at Guggenheim assumed coverage on shares of Marathon Digital (NASDAQ:MARA) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set a “neutral” rating on the business services provider’s stock.

Other equities analysts have also issued reports about the company. Rosenblatt Securities boosted their price target on Marathon Digital from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Digital in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on shares of Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, September 26th. BTIG Research reaffirmed a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a report on Friday, September 5th. Finally, Compass Point began coverage on shares of Marathon Digital in a research note on Monday, September 15th. They set a “neutral” rating and a $18.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Marathon Digital currently has a consensus rating of “Moderate Buy” and an average target price of $24.20.

Marathon Digital Stock Performance

NASDAQ:MARA opened at $19.15 on Tuesday. The firm’s fifty day simple moving average is $17.56 and its 200 day simple moving average is $16.13. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. Marathon Digital has a twelve month low of $9.81 and a twelve month high of $30.28. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 17.25 and a beta of 6.33.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, beating the consensus estimate of ($0.29) by $2.13. The company had revenue of $238.50 million for the quarter, compared to analyst estimates of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The firm’s revenue was up 64.0% compared to the same quarter last year. During the same period last year, the company posted ($0.72) earnings per share. As a group, equities research analysts expect that Marathon Digital will post -1.04 earnings per share for the current fiscal year.

Insider Activity at Marathon Digital

In other Marathon Digital news, Director Vicki Mealer-Burke sold 14,887 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $15.22, for a total transaction of $226,580.14. Following the transaction, the director directly owned 58,103 shares in the company, valued at $884,327.66. This represents a 20.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $22.74, for a total transaction of $789,805.68. Following the transaction, the chief financial officer directly owned 318,030 shares of the company’s stock, valued at approximately $7,232,002.20. This represents a 9.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 204,598 shares of company stock valued at $3,616,374 over the last ninety days. Corporate insiders own 0.80% of the company’s stock.

Institutional Trading of Marathon Digital

Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in Marathon Digital by 10.0% during the 1st quarter. Rhumbline Advisers now owns 917,299 shares of the business services provider’s stock worth $10,549,000 after buying an additional 83,242 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Marathon Digital by 12.0% during the 2nd quarter. New York State Teachers Retirement System now owns 318,656 shares of the business services provider’s stock valued at $4,997,000 after acquiring an additional 34,100 shares in the last quarter. Intech Investment Management LLC lifted its stake in Marathon Digital by 14.5% during the first quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider’s stock worth $1,848,000 after purchasing an additional 20,413 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Marathon Digital by 7.7% in the second quarter. Exchange Traded Concepts LLC now owns 1,173,211 shares of the business services provider’s stock worth $18,396,000 after purchasing an additional 83,649 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in Marathon Digital by 307.7% in the first quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider’s stock worth $729,000 after purchasing an additional 47,826 shares during the period. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Company Profile

MARA 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 Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.