Marathon Digital Holdings, Inc. Forecasted to Post Q4 2022 Earnings of ($0.17) Per Share (NASDAQ:MARA)

Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Rating) – Research analysts at B. Riley raised their Q4 2022 earnings estimates for shares of Marathon Digital in a research note issued to investors on Wednesday, November 9th. B. Riley analyst L. Pipes now forecasts that the business services provider will earn ($0.17) per share for the quarter, up from their previous estimate of ($0.21). B. Riley has a “Neutral” rating and a $8.00 price target on the stock. The consensus estimate for Marathon Digital’s current full-year earnings is ($1.16) per share. B. Riley also issued estimates for Marathon Digital’s Q1 2023 earnings at $0.06 EPS, Q2 2023 earnings at $0.14 EPS, FY2023 earnings at $0.95 EPS, Q1 2024 earnings at $0.74 EPS, Q3 2024 earnings at $0.11 EPS and FY2024 earnings at $0.99 EPS.

Other equities analysts also recently issued research reports about the stock. HC Wainwright cut their price target on shares of Marathon Digital from $35.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday. Cowen raised their price objective on shares of Marathon Digital from $7.00 to $9.00 in a research note on Tuesday, August 23rd. DA Davidson dropped their price objective on shares of Marathon Digital from $30.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, September 15th. BTIG Research cut shares of Marathon Digital from a “buy” rating to a “neutral” rating in a research note on Friday, September 23rd. Finally, Compass Point dropped their price objective on shares of Marathon Digital from $30.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, October 25th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Marathon Digital presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.17.

Marathon Digital Price Performance

Shares of NASDAQ:MARA opened at $9.77 on Friday. Marathon Digital has a twelve month low of $5.20 and a twelve month high of $76.83. The company’s 50 day moving average is $11.51 and its 200 day moving average is $11.17. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 1.11. The company has a market cap of $1.14 billion, a PE ratio of -4.02 and a beta of 5.05.

Insider Activity

In other Marathon Digital news, Director Kevin A. Denuccio bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were purchased at an average price of $13.72 per share, for a total transaction of $68,600.00. Following the transaction, the director now directly owns 105,000 shares of the company’s stock, valued at approximately $1,440,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MARA. Renaissance Technologies LLC lifted its holdings in Marathon Digital by 297.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,636,538 shares of the business services provider’s stock valued at $8,739,000 after purchasing an additional 1,224,300 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in Marathon Digital by 138.1% in the 1st quarter. Allianz Asset Management GmbH now owns 1,161,688 shares of the business services provider’s stock valued at $32,470,000 after purchasing an additional 673,764 shares in the last quarter. Johnson Financial Group LLC purchased a new position in Marathon Digital in the 2nd quarter valued at $1,869,000. LPL Financial LLC lifted its holdings in Marathon Digital by 113.7% in the 2nd quarter. LPL Financial LLC now owns 554,225 shares of the business services provider’s stock valued at $2,960,000 after purchasing an additional 294,872 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Marathon Digital by 38.5% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 968,117 shares of the business services provider’s stock valued at $5,170,000 after purchasing an additional 269,054 shares in the last quarter. Hedge funds and other institutional investors own 42.59% of the company’s stock.

About Marathon Digital

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

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