Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives Average Rating of “Hold” from Brokerages

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have been assigned a consensus recommendation of “Hold” from the eight analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $21.11.

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Marathon Digital from a “hold” rating to a “sell” rating in a research report on Monday, April 15th. Chardan Capital lifted their target price on shares of Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. BTIG Research upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, January 17th. JPMorgan Chase & Co. lifted their price target on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a report on Wednesday, April 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $35.00 price target on shares of Marathon Digital in a report on Tuesday, March 19th.

Institutional Investors Weigh In On Marathon Digital

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Marathon Digital by 26.7% in the fourth quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock valued at $551,395,000 after purchasing an additional 4,950,392 shares during the period. BlackRock Inc. grew its holdings in Marathon Digital by 6.0% in the third quarter. BlackRock Inc. now owns 7,785,906 shares of the business services provider’s stock valued at $83,387,000 after purchasing an additional 439,850 shares during the period. Morgan Stanley grew its holdings in Marathon Digital by 208.7% in the third quarter. Morgan Stanley now owns 6,999,580 shares of the business services provider’s stock valued at $59,496,000 after purchasing an additional 4,731,807 shares during the period. State Street Corp grew its holdings in Marathon Digital by 11.2% in the third quarter. State Street Corp now owns 2,682,614 shares of the business services provider’s stock valued at $28,731,000 after purchasing an additional 269,351 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Marathon Digital by 9.3% in the first quarter. Geode Capital Management LLC now owns 2,625,114 shares of the business services provider’s stock valued at $22,896,000 after purchasing an additional 224,445 shares during the period. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Digital Stock Performance

Shares of MARA opened at $16.50 on Monday. The company has a current ratio of 30.50, a quick ratio of 30.51 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.42 billion, a P/E ratio of 19.64 and a beta of 5.36. The company has a 50-day moving average of $21.79 and a two-hundred day moving average of $17.50. Marathon Digital has a 12-month low of $7.16 and a 12-month high of $34.09.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The business had revenue of $156.77 million for the quarter, compared to analyst estimates of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. As a group, research analysts predict that Marathon Digital will post -0.04 EPS for the current fiscal year.

Marathon Digital Company Profile

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.