Brokerages Set Marathon Digital Holdings, Inc. (NASDAQ:MARA) PT at $19.90

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has received a consensus rating of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $19.90.

Several research firms have recently weighed in on MARA. Piper Sandler reduced their target price on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Cantor Fitzgerald reduced their target price on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Morgan Stanley initiated coverage on shares of Marathon Digital in a research note on Monday, February 9th. They issued an “underweight” rating and a $8.00 target price for the company. Finally, Weiss Ratings cut Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, March 6th.

Insider Buying and Selling at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $9.18, for a total value of $252,495.90. Following the completion of the transaction, the chief executive officer directly owned 4,788,954 shares in the company, valued at approximately $43,962,597.72. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 16,000 shares of Marathon Digital stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $9.18, for a total value of $146,880.00. Following the completion of the transaction, the chief financial officer owned 343,165 shares of the company’s stock, valued at approximately $3,150,254.70. This trade represents a 4.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 114,515 shares of company stock valued at $1,029,678. 0.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marathon Digital

Several hedge funds have recently bought and sold shares of MARA. UBS Group AG grew its stake in Marathon Digital by 104.1% during the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock valued at $220,922,000 after acquiring an additional 6,172,110 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Marathon Digital during the third quarter valued at approximately $93,066,000. Norges Bank purchased a new position in Marathon Digital during the fourth quarter valued at approximately $39,492,000. Vanguard Group Inc. grew its stake in Marathon Digital by 9.8% during the third quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock valued at $827,392,000 after acquiring an additional 4,049,979 shares in the last quarter. Finally, Capital Research Global Investors purchased a new position in Marathon Digital during the third quarter valued at approximately $68,090,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Stock Performance

Shares of MARA opened at $11.60 on Friday. The firm has a market cap of $4.41 billion, a PE ratio of -2.93 and a beta of 5.29. The stock’s fifty day moving average price is $8.74 and its two-hundred day moving average price is $11.64. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.27 and a quick ratio of 1.27. Marathon Digital has a 1 year low of $6.66 and a 1 year high of $23.45.

Marathon Digital (NASDAQ:MARA) last issued its earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($4.29). The firm had revenue of $202.31 million during the quarter, compared to the consensus estimate of $250.74 million. Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.24 earnings per share. On average, equities research analysts forecast that Marathon Digital will post -1.04 EPS for the current year.

Marathon Digital Company Profile

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.