Marathon Digital (NASDAQ:MARA) PT Raised to $66.00 at Compass Point

Marathon Digital (NASDAQ:MARAGet Rating) had its price objective increased by investment analysts at Compass Point from $54.00 to $66.00 in a report issued on Tuesday, Stock Target Advisor reports. The firm currently has a “na” rating on the business services provider’s stock.

A number of other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Marathon Digital from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Jefferies Financial Group initiated coverage on shares of Marathon Digital in a research note on Friday, January 28th. They issued a “buy” rating and a $51.00 price target for the company. Finally, B. Riley cut their price target on shares of Marathon Digital from $57.00 to $36.00 in a research note on Thursday, May 5th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $53.33.

MARA traded down $0.93 during trading hours on Tuesday, hitting $9.00. 11,157,371 shares of the company’s stock were exchanged, compared to its average volume of 12,080,301. Marathon Digital has a 1-year low of $8.74 and a 1-year high of $83.45. The stock’s 50-day moving average is $20.08 and its two-hundred day moving average is $29.58. The stock has a market cap of $956.78 million, a price-to-earnings ratio of -6.72 and a beta of 4.65. The company has a quick ratio of 40.00, a current ratio of 40.00 and a debt-to-equity ratio of 0.94.

Marathon Digital (NASDAQ:MARAGet Rating) last announced its earnings results on Tuesday, March 1st. The business services provider reported $0.36 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 analysts’ expectations of $60.23 million. Marathon Digital had a negative net margin of 68.64% and a positive return on equity of 19.68%. On average, equities research analysts anticipate that Marathon Digital will post 1.45 EPS for the current year.

In related news, Director Kevin A. Denuccio acquired 15,424 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were bought at an average cost of $9.63 per share, with a total value of $148,533.12. Following the completion of the transaction, the director now directly owns 99,999 shares of the company’s stock, valued at $962,990.37. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 4.62% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new position in Marathon Digital during the third quarter worth about $32,000. Tobam increased its position in Marathon Digital by 139.3% during 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 period. Bradley & Co. Private Wealth Management LLC bought a new position in Marathon Digital during the first quarter worth about $35,000. Quantbot Technologies LP bought a new position in Marathon Digital during the first quarter worth about $37,000. Finally, Wells Fargo & Company MN increased its position in Marathon Digital by 56.3% during the second quarter. Wells Fargo & Company MN now owns 1,307 shares of the business services provider’s stock worth $41,000 after acquiring an additional 471 shares during the period. 39.93% of the stock is currently owned by institutional investors and hedge funds.

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.

Recommended Stories

Stock Target Advisor logo

Analyst Recommendations for Marathon Digital (NASDAQ:MARA)

Receive News & Ratings for Marathon Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Digital and related companies with MarketBeat.com's FREE daily email newsletter.