Marathon Digital (NASDAQ:MARA) Price Target Lowered to $10.00 at Cantor Fitzgerald

Marathon Digital (NASDAQ:MARA) had its price objective cut by Cantor Fitzgerald from $11.00 to $10.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

A number of other analysts also recently weighed in on MARA. HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Morgan Stanley initiated coverage on Marathon Digital in a research note on Monday, February 9th. They issued an “underweight” rating and a $8.00 price target on the stock. Piper Sandler decreased their price target on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. Finally, Weiss Ratings downgraded Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, March 6th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Marathon Digital currently has an average rating of “Hold” and an average price target of $19.90.

Marathon Digital Trading Up 1.8%

NASDAQ:MARA opened at $9.67 on Thursday. The firm has a market cap of $3.68 billion, a P/E ratio of -2.44 and a beta of 5.29. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.92. The stock’s 50 day simple moving average is $8.47 and its 200-day simple moving average is $12.02. Marathon Digital has a 12-month low of $6.66 and a 12-month high of $23.45.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($4.29). The company had revenue of $202.31 million during the quarter, compared to analyst estimates of $250.74 million. Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 EPS. Equities analysts anticipate 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 business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $9.18, for a total transaction of $252,495.90. Following the sale, the chief executive officer directly owned 4,788,954 shares in the company, valued at approximately $43,962,597.72. The trade was a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $9.18, for a total value of $146,880.00. Following the sale, the chief financial officer owned 343,165 shares in the company, valued at approximately $3,150,254.70. The trade was a 4.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 114,515 shares of company stock worth $1,029,678. 0.80% of the stock is owned by company insiders.

Institutional Trading of Marathon Digital

A number of institutional investors have recently bought and sold shares of MARA. Bessemer Group Inc. raised its holdings in shares of Marathon Digital by 56.8% in the third 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 during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Marathon Digital by 15.9% in the third quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider’s stock worth $108,000 after acquiring an additional 799 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Marathon Digital by 3.1% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 29,389 shares of the business services provider’s stock worth $537,000 after acquiring an additional 882 shares during the last quarter. United Capital Management of KS Inc. raised its holdings in shares of Marathon Digital by 2.4% in the third quarter. United Capital Management of KS Inc. now owns 40,054 shares of the business services provider’s stock worth $731,000 after acquiring an additional 937 shares during the last quarter. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of Marathon Digital by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after acquiring an additional 991 shares during the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

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.