Marathon Digital (NASDAQ:MARA) Now Covered by Compass Point

Compass Point initiated coverage on shares of Marathon Digital (NASDAQ:MARA) in a report released on Monday, MarketBeat Ratings reports. The firm issued a neutral rating and a $18.00 price target on the business services provider’s stock.

Other analysts also recently issued research reports about the stock. Piper Sandler raised their price target on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Cantor Fitzgerald raised their price target on shares of Marathon Digital from $34.00 to $39.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Macquarie raised their price target on shares of Marathon Digital from $19.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. upgraded shares of Marathon Digital from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $19.00 to $22.00 in a report on Monday, July 28th. Finally, BTIG Research restated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a report on Friday, September 5th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Marathon Digital presently has an average rating of “Moderate Buy” and a consensus price target of $24.50.

Marathon Digital Stock Down 0.4%

Shares of NASDAQ MARA opened at $16.24 on Monday. The company has a 50 day simple moving average of $16.64 and a 200-day simple moving average of $15.05. The company has a market capitalization of $6.02 billion, a P/E ratio of 14.63 and a beta of 6.36. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. Marathon Digital has a 1 year low of $9.81 and a 1 year high of $30.28.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $2.13. The business had revenue of $238.50 million during the quarter, compared to the consensus estimate of $212.25 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The business’s revenue was up 64.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.72) EPS. On average, equities research analysts predict that Marathon Digital will post -1.04 earnings per share for the current year.

Insider Transactions at Marathon Digital

In other news, Director Vicki Mealer-Burke sold 14,887 shares of Marathon Digital stock in a transaction on Monday, September 8th. The shares were sold at an average price of $15.22, for a total transaction of $226,580.14. Following the completion of the sale, the director directly owned 58,103 shares of the company’s stock, valued at approximately $884,327.66. The trade was a 20.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction on Friday, August 15th. The stock was sold at an average price of $15.73, for a total transaction of $546,334.36. Following the sale, the chief financial officer directly owned 353,160 shares of the company’s stock, valued at approximately $5,555,206.80. This trade represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 142,361 shares of company stock valued at $2,441,463. Insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Institutional investors have recently modified their holdings of the company. Park Square Financial Group LLC purchased a new stake in shares of Marathon Digital during the 4th quarter worth $27,000. Fifth Third Bancorp lifted its position in shares of Marathon Digital by 59.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after purchasing an additional 683 shares during the last quarter. Estabrook Capital Management purchased a new stake in shares of Marathon Digital during the 2nd quarter worth $31,000. IFP Advisors Inc lifted its position in shares of Marathon Digital by 375.4% during the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock worth $40,000 after purchasing an additional 2,001 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its position in shares of Marathon Digital by 38.6% during the 2nd quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider’s stock worth $76,000 after purchasing an additional 1,340 shares during the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.