Marathon Digital Holdings, Inc. (NASDAQ:MARA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $22.4444.

MARA has been the subject of a number of recent research reports. Macquarie raised their target price on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Marathon Digital in a report on Monday, December 29th. JPMorgan Chase & Co. cut 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 report on Monday, November 24th. Rosenblatt Securities reduced 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. Finally, Cantor Fitzgerald decreased their target price on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th.

Marathon Digital Stock Down 3.7%

MARA stock opened at $9.50 on Friday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average of $10.66 and a two-hundred day moving average of $14.75. Marathon Digital has a 12 month low of $8.95 and a 12 month high of $23.45. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 5.28 and a beta of 5.34.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. The company had revenue of $252.41 million during the quarter, compared to analysts’ expectations of $254.58 million. As a group, analysts forecast that Marathon Digital will post -1.04 earnings per share for the current fiscal year.

Insider Activity at Marathon Digital

In related news, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 283,298 shares in the company, valued at approximately $3,396,743.02. This represents a 10.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Zabi Nowaid sold 25,113 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $15.87, for a total value of $398,543.31. Following the sale, the general counsel directly owned 723,136 shares of the company’s stock, valued at approximately $11,476,168.32. This trade represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 182,979 shares of company stock worth $2,234,934. Insiders own 0.80% of the company’s stock.

Institutional Trading of Marathon Digital

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management boosted its stake in Marathon Digital by 2,407.4% during the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock worth $25,000 after buying an additional 1,300 shares during the period. Fifth Third Bancorp raised its stake in shares of Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 683 shares during the period. Estabrook Capital Management acquired a new position in shares of Marathon Digital in the 2nd quarter worth approximately $31,000. Bessemer Group Inc. boosted its position 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 purchasing an additional 659 shares during the period. Finally, IFP Advisors Inc increased its holdings in Marathon Digital by 375.4% in the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 2,001 shares during the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Digital Company Profile

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.