Marathon Digital (NASDAQ:MARA) Upgraded by Compass Point to “Buy” Rating

Compass Point upgraded shares of Marathon Digital (NASDAQ:MARA) from a neutral rating to a buy rating in a research report report published on Monday morning, Marketbeat.com reports. They currently have $30.00 price objective on the business services provider’s stock.

Several other research firms also recently commented on MARA. Macquarie increased their price objective on Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. BTIG Research reiterated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research report on Friday, September 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Marathon Digital in a research note on Monday, November 17th. Cantor Fitzgerald dropped their price objective on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Finally, Rosenblatt Securities decreased their target price on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Marathon Digital has an average rating of “Moderate Buy” and an average price target of $23.50.

Marathon Digital Trading Up 11.3%

MARA stock opened at $11.21 on Monday. Marathon Digital has a 12-month low of $9.71 and a 12-month high of $30.28. The business’s 50-day moving average is $17.33 and its 200 day moving average is $16.57. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 10.10 and a beta of 6.40.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The firm had revenue of $252.41 million during the quarter, compared to analysts’ expectations of $254.58 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. On average, sell-side analysts anticipate that Marathon Digital will post -1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $11.99, for a total value of $329,784.95. Following the transaction, the chief executive officer owned 3,582,994 shares of the company’s stock, valued at $42,960,098.06. This represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $11.99, for a total value of $416,436.68. Following the transaction, the chief financial officer owned 283,298 shares of the company’s stock, valued at approximately $3,396,743.02. This represents a 10.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 234,598 shares of company stock worth $3,876,481 over the last ninety days. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Marathon Digital

Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG grew its position in Marathon Digital by 104.1% in the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock valued at $220,922,000 after acquiring an additional 6,172,110 shares in the last quarter. Marex Group plc purchased a new position in shares of Marathon Digital in the second quarter valued at approximately $84,301,000. Voloridge Investment Management LLC acquired a new position in shares of Marathon Digital in the third quarter valued at approximately $93,066,000. Vanguard Group Inc. increased its stake in Marathon Digital by 9.8% during the 3rd quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock worth $827,392,000 after buying an additional 4,049,979 shares during the period. Finally, Norges Bank acquired a new stake in Marathon Digital during the 2nd quarter worth approximately $59,255,000. 44.53% of the stock is currently 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.