JPMorgan Chase & Co. Has Lowered Expectations for Marathon Digital (NASDAQ:MARA) Stock Price

Marathon Digital (NASDAQ:MARA) had its price target cut by research analysts at JPMorgan Chase & Co. from $20.00 to $13.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 16.38% from the company’s previous close.

Other research analysts have also issued research reports about the company. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Monday. Rosenblatt Securities decreased their price target on Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Marathon Digital in a report on Monday, November 17th. Guggenheim began coverage on shares of Marathon Digital in a report on Tuesday, October 21st. They set a “neutral” rating on the stock. Finally, BTIG Research reissued a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research report on Friday, September 5th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Marathon Digital Stock Performance

Shares of NASDAQ MARA opened at $11.17 on Monday. The company has a market cap of $4.22 billion, a PE ratio of 10.06 and a beta of 6.40. Marathon Digital has a 12 month low of $9.71 and a 12 month high of $30.28. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. The company has a 50-day simple moving average of $17.20 and a 200-day simple moving average of $16.54.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The firm had revenue of $252.41 million for the quarter, compared to analysts’ expectations of $254.58 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. On average, equities analysts anticipate that Marathon Digital will post -1.04 earnings per share for the current year.

Insider Buying and Selling at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $11.99, for a total transaction of $329,784.95. Following the completion of the sale, the chief executive officer directly owned 3,582,994 shares of the company’s stock, valued at approximately $42,960,098.06. This represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $11.99, for a total value of $416,436.68. Following the completion of the sale, the chief financial officer owned 283,298 shares of the company’s stock, valued at approximately $3,396,743.02. This represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 234,598 shares of company stock valued at $3,876,481 in the last ninety days. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Several hedge funds have recently modified their holdings of MARA. CWM LLC boosted its holdings in Marathon Digital by 361.9% in the 1st quarter. CWM LLC now owns 14,360 shares of the business services provider’s stock worth $165,000 after acquiring an additional 11,251 shares during the period. Victory Capital Management Inc. lifted its position in shares of Marathon Digital by 6.8% during the first quarter. Victory Capital Management Inc. now owns 72,251 shares of the business services provider’s stock worth $831,000 after purchasing an additional 4,597 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Marathon Digital in the first quarter valued at $2,555,000. KLP Kapitalforvaltning AS grew its holdings in Marathon Digital by 20.7% during the 1st quarter. KLP Kapitalforvaltning AS now owns 72,900 shares of the business services provider’s stock valued at $838,000 after purchasing an additional 12,500 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Marathon Digital by 18.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,276 shares of the business services provider’s stock valued at $785,000 after purchasing an additional 10,811 shares in the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Digital Company Profile

MARA 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 Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.