Marathon Digital (NASDAQ:MARA) Price Target Lowered to $13.00 at JPMorgan Chase & Co.

Marathon Digital (NASDAQ:MARA) had its price target lowered by JPMorgan Chase & Co. from $20.00 to $13.00 in a report released on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the business services provider’s stock.

Several other equities analysts have also recently weighed in on MARA. Macquarie increased their price target on Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Rosenblatt Securities lowered their target price on Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Guggenheim began coverage on Marathon Digital in a research note on Tuesday, October 21st. They set a “neutral” rating for the company. Compass Point raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Monday. Finally, BTIG Research reissued a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Friday, September 5th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.50.

Marathon Digital Price Performance

MARA opened at $11.21 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $4.24 billion, a P/E ratio of 10.10 and a beta of 6.40. The company’s 50-day simple moving average is $17.33 and its two-hundred day simple moving average is $16.57. Marathon Digital has a 52-week low of $9.71 and a 52-week high of $30.28.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). The company had revenue of $252.41 million during the quarter, compared to the consensus estimate of $254.58 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%. As a group, analysts predict that Marathon Digital will post -1.04 EPS for the current year.

Insiders Place Their Bets

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $11.99, for a total transaction of $329,784.95. Following the sale, the chief executive officer directly owned 3,582,994 shares of the company’s stock, valued at $42,960,098.06. This trade represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vicki Mealer-Burke sold 14,887 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $15.22, for a total value of $226,580.14. Following the completion of the transaction, the director directly owned 58,103 shares of the company’s stock, valued at approximately $884,327.66. This trade represents a 20.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 234,598 shares of company stock worth $3,876,481. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marathon Digital

Several hedge funds have recently modified their holdings of MARA. Bessemer Group Inc. raised its holdings in shares of Marathon Digital by 56.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after acquiring an additional 659 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 683 shares in the last quarter. CX Institutional increased its position in Marathon Digital by 12.6% in the second quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock worth $105,000 after purchasing an additional 749 shares during the last quarter. Archer Investment Corp raised its stake in Marathon Digital by 10.9% during the second quarter. Archer Investment Corp now owns 7,650 shares of the business services provider’s stock valued at $120,000 after purchasing an additional 750 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Marathon Digital by 15.9% during the third quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider’s stock valued at $108,000 after purchasing an additional 799 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

About Marathon Digital

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.