Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $23.5556.

Several analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Marathon Digital in a report on Monday, December 29th. Cantor Fitzgerald reduced their price target on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Macquarie increased their price objective on shares of Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Finally, Compass Point upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Monday, November 24th.

Insider Buying and Selling at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $10.77, for a total value of $296,228.85. Following the completion of the sale, the chief executive officer directly owned 3,555,489 shares of the company’s stock, valued at $38,292,616.53. This trade represents a 0.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $11.48, for a total value of $398,723.36. Following the transaction, the chief financial officer directly owned 248,566 shares in the company, valued at approximately $2,853,537.68. This represents a 12.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 217,711 shares of company stock worth $3,265,959 over the last ninety days. Company insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MARA. Bank of New York Mellon Corp increased its holdings in Marathon Digital by 8.4% during the second quarter. Bank of New York Mellon Corp now owns 2,286,074 shares of the business services provider’s stock valued at $35,846,000 after buying an additional 177,771 shares during the period. Emerald Advisers LLC boosted its position in Marathon Digital by 77.4% during the 2nd quarter. Emerald Advisers LLC now owns 579,571 shares of the business services provider’s stock valued at $9,088,000 after acquiring an additional 252,864 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in shares of Marathon Digital by 91.3% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 347,214 shares of the business services provider’s stock valued at $5,444,000 after acquiring an additional 165,688 shares during the period. Intech Investment Management LLC raised its position in shares of Marathon Digital by 14.5% in the 1st quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider’s stock worth $1,848,000 after acquiring an additional 20,413 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in shares of Marathon Digital by 12.0% in the 2nd quarter. New York State Teachers Retirement System now owns 318,656 shares of the business services provider’s stock worth $4,997,000 after acquiring an additional 34,100 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

Marathon Digital Stock Down 2.6%

MARA opened at $10.31 on Wednesday. The company has a market capitalization of $3.90 billion, a PE ratio of 5.73 and a beta of 5.34. The firm has a 50-day simple moving average of $12.14 and a two-hundred day simple moving average of $15.55. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63. Marathon Digital has a 52 week low of $8.95 and a 52 week high of $23.45.

Marathon Digital (NASDAQ:MARA) last posted its 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). Marathon Digital had a negative return on equity of 2.59% and a net margin of 100.82%.The firm had revenue of $252.41 million during the quarter, compared to analysts’ expectations of $254.58 million. Analysts forecast that Marathon Digital will post -1.04 earnings per share for the current fiscal year.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.