Piper Sandler Lowers Marathon Digital (NASDAQ:MARA) Price Target to $13.00

Marathon Digital (NASDAQ:MARA) had its target price decreased by equities research analysts at Piper Sandler from $16.00 to $13.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 21.61% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Cantor Fitzgerald dropped their target price on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Weiss Ratings cut shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Rosenblatt Securities raised their price objective on shares of Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Morgan Stanley dropped their price objective on shares of Marathon Digital from $7.00 to $5.50 and set an “underweight” rating for the company in a report on Wednesday, July 8th. Finally, BTIG Research reaffirmed a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research note on Monday, June 1st. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.50.

Marathon Digital Trading Down 6.4%

MARA opened at $10.69 on Friday. Marathon Digital has a 52 week low of $6.66 and a 52 week high of $23.45. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. The business has a fifty day simple moving average of $13.37 and a 200-day simple moving average of $10.89. The firm has a market cap of $4.08 billion, a P/E ratio of -1.87 and a beta of 5.36.

Insider Buying and Selling

In other news, General Counsel Zabi Nowaid sold 7,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total transaction of $99,750.00. Following the completion of the transaction, the general counsel directly owned 963,768 shares of the company’s stock, valued at approximately $13,733,694. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total value of $391,946.25. Following the transaction, the chief executive officer directly owned 4,562,009 shares of the company’s stock, valued at approximately $65,008,628.25. This represents a 0.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 109,260 shares of company stock worth $1,452,756 over the last 90 days. 0.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MARA. CI Investments Inc. increased its position in Marathon Digital by 7.6% during the first quarter. CI Investments Inc. now owns 13,520 shares of the business services provider’s stock worth $110,000 after buying an additional 957 shares during the period. Integrated Wealth Concepts LLC boosted 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 valued at $127,000 after acquiring an additional 991 shares during the period. Evexia Wealth LLC boosted its holdings in shares of Marathon Digital by 9.2% in the first quarter. Evexia Wealth LLC now owns 12,937 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 1,090 shares during the period. Sigma Planning Corp grew its position in shares of Marathon Digital by 12.4% during the fourth quarter. Sigma Planning Corp now owns 11,924 shares of the business services provider’s stock worth $107,000 after acquiring an additional 1,320 shares during the last quarter. Finally, Osaic Holdings Inc. grew its position in shares of Marathon Digital by 38.6% during the second quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider’s stock worth $76,000 after acquiring an additional 1,340 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Key Stories Impacting Marathon Digital

Here are the key news stories impacting Marathon Digital this week:

• Neutral Sentiment: MARA remains one of the more heavily watched crypto-mining stocks, which can keep trading activity elevated even when there is no major company-specific announcement. Marathon Digital Holdings, Inc. (MARA) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Piper Sandler cut its price target on Marathon Digital to $13 from $16, though it kept an overweight rating, signaling continued long-term confidence despite a lower near-term valuation estimate. Benzinga report on Piper Sandler price target cut
• Negative Sentiment: MARA fell more than the broader market in the latest session, extending its recent weakness and suggesting investors are still cautious around the stock’s volatility and outlook. Here’s Why Marathon Digital Holdings, Inc. (MARA) Fell More Than Broader Market
• Negative Sentiment: The stock declined again in the most recent trading session, reinforcing a short-term downtrend as investors appear to be taking profits or trimming exposure. Marathon Digital Holdings, Inc. (MARA) Declines More Than Market: Some Information for 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.