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

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $21.00.

A number of equities research analysts have weighed in on MARA shares. Rosenblatt Securities lowered their price objective on Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. 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, November 24th. JPMorgan Chase & Co. cut their price target on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Morgan Stanley began coverage on shares of Marathon Digital in a research note on Monday, February 9th. They set an “underweight” rating and a $8.00 price objective on the stock. Finally, Cantor Fitzgerald dropped their target price on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th.

Marathon Digital Price Performance

MARA opened at $8.57 on Thursday. The company has a 50 day moving average of $9.38 and a two-hundred day moving average of $13.58. 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 $6.66 and a 52-week high of $23.45. The company has a market cap of $3.24 billion, a P/E ratio of 4.76 and a beta of 5.56.

Insider Activity

In related news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $7.66, for a total transaction of $210,688.30. Following the sale, the chief executive officer directly owned 3,381,861 shares of the company’s stock, valued at approximately $25,905,055.26. This represents a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 16,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $7.66, for a total value of $122,560.00. Following the transaction, the chief financial officer owned 359,165 shares in the company, valued at $2,751,203.90. This trade represents a 4.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 133,247 shares of company stock valued at $1,325,255. 0.80% of the stock is owned by corporate insiders.

Institutional Trading of Marathon Digital

Several institutional investors have recently added to or reduced their stakes in MARA. Integrated Wealth Concepts LLC lifted its position in shares of Marathon Digital by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after buying an additional 991 shares during the last quarter. NewEdge Advisors LLC raised its stake in Marathon Digital by 65.3% during the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock worth $88,000 after acquiring an additional 3,032 shares during the period. United Services Automobile Association lifted its holdings in Marathon Digital by 8.2% in the first quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock worth $257,000 after acquiring an additional 1,569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Marathon Digital by 11.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider’s stock valued at $7,398,000 after acquiring an additional 63,903 shares during the period. Finally, AlphaQuest LLC boosted its stake in Marathon Digital by 16.9% in the second quarter. AlphaQuest LLC now owns 8,913 shares of the business services provider’s stock valued at $140,000 after acquiring an additional 1,289 shares during the period. Institutional investors own 44.53% of the company’s stock.

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.