B. Riley Equities Analysts Reduce Earnings Estimates for Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Rating) – Equities researchers at B. Riley decreased their Q2 2022 EPS estimates for Marathon Digital in a report released on Thursday, May 5th. B. Riley analyst L. Pipes now anticipates that the business services provider will post earnings of $0.21 per share for the quarter, down from their prior estimate of $0.70. B. Riley also issued estimates for Marathon Digital’s Q3 2022 earnings at $0.34 EPS, Q4 2022 earnings at $0.71 EPS, Q1 2023 earnings at $0.61 EPS, Q2 2023 earnings at $0.59 EPS, Q3 2023 earnings at $0.60 EPS, Q4 2023 earnings at $0.60 EPS and FY2023 earnings at $2.39 EPS.

A number of other equities analysts have also recently commented on MARA. BTIG Research assumed coverage on Marathon Digital in a research note on Tuesday, January 18th. They issued a “buy” rating and a $50.00 price target on the stock. Compass Point boosted their target price on Marathon Digital from $48.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, March 8th. Jefferies Financial Group assumed coverage on Marathon Digital in a research note on Friday, January 28th. They set a “buy” rating and a $51.00 target price on the stock. Finally, Zacks Investment Research raised Marathon Digital from a “sell” rating to a “hold” rating in a research note on Friday, April 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Marathon Digital currently has an average rating of “Buy” and a consensus target price of $55.33.

Shares of Marathon Digital stock opened at $14.95 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 49.89 and a quick ratio of 49.89. The business’s 50 day simple moving average is $23.26 and its two-hundred day simple moving average is $33.27. The stock has a market capitalization of $1.59 billion, a P/E ratio of -11.16 and a beta of 4.65. Marathon Digital has a one year low of $14.45 and a one year high of $83.45.

Marathon Digital (NASDAQ:MARAGet Rating) last announced its quarterly earnings results on Tuesday, March 1st. The business services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $60.28 million for the quarter, compared to analysts’ expectations of $60.23 million. Marathon Digital had a positive return on equity of 20.70% and a negative net margin of 68.64%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Investment Advisors Ltd. grew its stake in shares of Marathon Digital by 93.3% in the third quarter. Sterling Investment Advisors Ltd. now owns 802 shares of the business services provider’s stock worth $25,000 after acquiring an additional 387 shares during the last quarter. Atticus Wealth Management LLC purchased a new stake in shares of Marathon Digital in the third quarter worth $27,000. Altshuler Shaham Ltd purchased a new stake in shares of Marathon Digital in the third quarter worth $32,000. Tobam grew its stake in shares of Marathon Digital by 139.3% in the first quarter. Tobam now owns 1,247 shares of the business services provider’s stock worth $35,000 after acquiring an additional 726 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Marathon Digital in the first quarter worth $35,000. Institutional investors and hedge funds own 39.93% of the company’s stock.

Marathon Digital Company Profile (Get Rating)

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States. As of December 31, 2021, it had approximately 8,115 bitcoins, which included the 4,794 bitcoins held in the investment fund.

See Also

Earnings History and Estimates for Marathon Digital (NASDAQ:MARA)

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