Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives Average Rating of “Hold” from Analysts

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have been given a consensus rating of “Hold” by the ten brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $20.94.

Several equities research analysts recently commented on the stock. Compass Point reiterated a “sell” rating and set a $9.50 price target (down from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. Barclays boosted their price target on shares of Marathon Digital from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Rosenblatt Securities boosted their price target on shares of Marathon Digital from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. HC Wainwright reiterated a “buy” rating and set a $28.00 price target on shares of Marathon Digital in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Marathon Digital from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, June 13th.

Insider Activity

In other news, Director Douglas K. Mellinger sold 3,000 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $16.00, for a total value of $48,000.00. Following the sale, the director directly owned 176,859 shares in the company, valued at $2,829,744. This represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $15.30, for a total transaction of $420,826.50. Following the completion of the sale, the chief executive officer owned 3,983,593 shares in the company, valued at $60,948,972.90. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 199,853 shares of company stock worth $3,072,049 over the last ninety days. 0.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marathon Digital

Several institutional investors and hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC raised its stake in Marathon Digital by 307.7% during the first quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider’s stock worth $729,000 after purchasing an additional 47,826 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Marathon Digital by 1,521.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider’s stock worth $147,000 after purchasing an additional 12,032 shares during the period. Alliancebernstein L.P. raised its stake in Marathon Digital by 1.0% during the fourth quarter. Alliancebernstein L.P. now owns 355,218 shares of the business services provider’s stock worth $5,957,000 after purchasing an additional 3,393 shares during the period. Corient Private Wealth LLC purchased a new position in Marathon Digital during the fourth quarter worth approximately $195,000. Finally, Wells Fargo & Company MN raised its stake in shares of Marathon Digital by 46.3% in the 4th quarter. Wells Fargo & Company MN now owns 239,195 shares of the business services provider’s stock valued at $4,011,000 after acquiring an additional 75,668 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Price Performance

Marathon Digital stock opened at $18.76 on Wednesday. The stock has a market cap of $6.60 billion, a P/E ratio of -12.94 and a beta of 6.53. The company has a fifty day simple moving average of $15.88 and a 200-day simple moving average of $15.35. Marathon Digital has a 12-month low of $9.81 and a 12-month high of $30.28. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings results on Thursday, May 8th. The business services provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.06). Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The company had revenue of $213.88 million for the quarter, compared to analyst estimates of $234.19 million. During the same quarter in the prior year, the business earned $1.26 earnings per share. Marathon Digital’s revenue was up 29.5% compared to the same quarter last year. Equities analysts expect that Marathon Digital will post -1.04 EPS for the current fiscal year.

Marathon Digital Company Profile

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.