Marathon Digital (NASDAQ:MARA) Coverage Initiated by Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of Marathon Digital (NASDAQ:MARA) in a research report released on Monday morning, Marketbeat Ratings reports. The brokerage issued an underweight rating and a $8.00 target price on the business services provider’s stock.

MARA has been the topic of a number of other research reports. Cantor Fitzgerald cut their price objective 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. Guggenheim assumed coverage on shares of Marathon Digital in a research report on Tuesday, October 21st. They issued a “neutral” rating for the company. Rosenblatt Securities dropped their price target 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. Macquarie Infrastructure lifted their price objective on shares of Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Eight 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $21.00.

Marathon Digital Stock Down 2.2%

MARA opened at $8.06 on Monday. Marathon Digital has a fifty-two week low of $6.66 and a fifty-two week high of $23.45. The business has a 50-day moving average of $10.29 and a 200-day moving average of $14.26. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09. The company has a market capitalization of $3.05 billion, a PE ratio of 4.48 and a beta of 5.56.

Insiders Place Their Bets

In related news, CFO Salman Hassan Khan sold 34,732 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $11.48, for a total transaction of $398,723.36. Following the completion of the sale, the chief financial officer directly owned 248,566 shares of the company’s stock, valued at approximately $2,853,537.68. This represents a 12.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $10.80, for a total transaction of $297,054.00. Following the completion of the transaction, the chief executive officer owned 3,517,566 shares in the company, valued at $37,989,712.80. The trade was a 0.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 151,979 shares of company stock valued at $1,738,228 over the last 90 days. 0.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marathon Digital

A number of institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management grew its holdings in Marathon Digital by 2,407.4% in the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after buying an additional 1,300 shares during the last quarter. Estabrook Capital Management acquired a new position in shares of Marathon Digital during the second quarter worth approximately $31,000. Bessemer Group Inc. boosted its position 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 valued at $33,000 after acquiring an additional 659 shares during the period. IFP Advisors Inc grew its stake in shares of Marathon Digital by 375.4% in the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock worth $40,000 after acquiring an additional 2,001 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its position in Marathon Digital by 344.8% during the fourth quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock worth $45,000 after acquiring an additional 3,893 shares during the period. 44.53% of the stock is currently owned by 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.