Marathon Digital Holdings, Inc. (NASDAQ:MARA) Given Average Rating of “Buy” by Brokerages

Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Rating) has received a consensus recommendation of “Buy” from the seven analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $53.60.

A number of analysts have weighed in on MARA shares. B. Riley reduced their price target on shares of Marathon Digital from $57.00 to $36.00 in a report on Thursday, May 5th. Compass Point increased their price target on shares of Marathon Digital from $48.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, March 8th. Jefferies Financial Group started coverage on shares of Marathon Digital in a report on Friday, January 28th. They issued a “buy” rating and a $51.00 price target for the company. Finally, Zacks Investment Research downgraded shares of Marathon Digital from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th.

NASDAQ MARA opened at $9.77 on Monday. The company has a current ratio of 40.00, a quick ratio of 40.00 and a debt-to-equity ratio of 0.94. The company has a fifty day simple moving average of $20.63 and a 200 day simple moving average of $30.10. The company has a market cap of $1.04 billion, a P/E ratio of -7.29 and a beta of 4.65. Marathon Digital has a 1 year low of $8.80 and a 1 year high of $83.45.

Marathon Digital (NASDAQ:MARA – Get Rating) last posted its quarterly earnings data on Tuesday, March 1st. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $60.28 million during the quarter, compared to the consensus estimate of $60.23 million. Marathon Digital had a negative net margin of 68.64% and a positive return on equity of 19.68%. Equities research analysts forecast that Marathon Digital will post 1.45 EPS for the current fiscal year.

In other Marathon Digital news, Director Kevin A. Denuccio acquired 15,424 shares of the company’s stock in a transaction dated Thursday, May 12th. The stock was bought at an average price of $9.63 per share, for a total transaction of $148,533.12. Following the purchase, the director now owns 99,999 shares in the company, valued at approximately $962,990.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.62% of the company’s stock.

Several hedge funds have recently made changes to their positions in MARA. Renaissance Technologies LLC raised its stake in shares of Marathon Digital by 871.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,417,438 shares of the business services provider’s stock valued at $46,577,000 after buying an additional 1,271,500 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Marathon Digital by 247.2% during the 4th quarter. JPMorgan Chase & Co. now owns 574,948 shares of the business services provider’s stock worth $18,894,000 after purchasing an additional 965,623 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Marathon Digital by 138.1% during the 1st quarter. Allianz Asset Management GmbH now owns 1,161,688 shares of the business services provider’s stock worth $32,470,000 after purchasing an additional 673,764 shares in the last quarter. Norges Bank acquired a new stake in shares of Marathon Digital during the 4th quarter worth about $20,731,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Marathon Digital by 505.5% during the 3rd quarter. Goldman Sachs Group Inc. now owns 610,788 shares of the business services provider’s stock worth $19,289,000 after purchasing an additional 509,917 shares in the last quarter. Institutional investors 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.

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