Marathon Digital Holdings, Inc. (NASDAQ:MARA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $23.5556.

MARA has been the topic of a number of recent analyst reports. 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 report on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Marathon Digital in a research report on Monday, December 29th. Macquarie increased their price target on Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. dropped their price target on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Finally, 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 report on Wednesday, November 5th.

Marathon Digital Stock Down 2.6%

NASDAQ:MARA opened at $10.31 on Wednesday. The company’s 50-day simple moving average is $12.14 and its 200-day simple moving average is $15.55. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.09 and a current ratio of 2.09. Marathon Digital has a fifty-two week low of $8.95 and a fifty-two week high of $23.45. The stock has a market capitalization of $3.90 billion, a P/E ratio of 5.73 and a beta of 5.34.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates 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 100.82% and a negative return on equity of 2.59%. On average, equities analysts anticipate that Marathon Digital will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $10.77, for a total value of $296,228.85. Following the completion of the transaction, the chief executive officer owned 3,555,489 shares of the company’s stock, valued at approximately $38,292,616.53. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the business’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 $416,436.68. Following the sale, the chief financial officer directly owned 283,298 shares in the company, valued at $3,396,743.02. This trade represents a 10.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 217,711 shares of company stock worth $3,265,959. 0.80% of the stock is owned by corporate insiders.

Institutional Trading of Marathon Digital

Several large investors have recently added to or reduced their stakes in the company. UBS Group AG increased its holdings in shares of Marathon Digital by 104.1% in the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock valued at $220,922,000 after purchasing an additional 6,172,110 shares during the period. Marex Group plc purchased a new stake in Marathon Digital in the second quarter valued at approximately $84,301,000. Voloridge Investment Management LLC acquired a new position in Marathon Digital in the 3rd quarter worth approximately $93,066,000. Vanguard Group Inc. raised its position in Marathon Digital by 9.8% during the 3rd quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock worth $827,392,000 after buying an additional 4,049,979 shares during the last quarter. Finally, Norges Bank acquired a new stake in Marathon Digital during the 2nd quarter valued at approximately $59,255,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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.