Marathon Digital Holdings, Inc. (NASDAQ:MARA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have been given a consensus recommendation of “Hold” by the eleven research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $18.3750.

MARA has been the topic of several recent research reports. BTIG Research restated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research report on Monday, June 1st. Cantor Fitzgerald reduced their target price on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Morgan Stanley reduced their target price on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a report on Tuesday, May 19th. Weiss Ratings lowered Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th.

Marathon Digital Stock Down 11.2%

NASDAQ:MARA opened at $12.32 on Friday. Marathon Digital has a 12-month low of $6.66 and a 12-month 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 firm has a market capitalization of $4.70 billion, a P/E ratio of -2.15 and a beta of 5.38. The stock’s fifty day simple moving average is $11.66 and its 200-day simple moving average is $10.42.

Insiders Place Their Bets

In other news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $9.18, for a total value of $252,495.90. Following the sale, the chief executive officer directly owned 4,788,954 shares in the company, valued at $43,962,597.72. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $11.68, for a total value of $186,880.00. Following the completion of the sale, the chief financial officer owned 441,066 shares in the company, valued at approximately $5,151,650.88. This trade represents a 3.50% 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. Over the last ninety days, insiders have sold 180,855 shares of company stock worth $2,033,654. Corporate insiders own 0.80% of the company’s stock.

Institutional Trading of Marathon Digital

A number of institutional investors have recently modified their holdings of the company. DV Trading LLC bought a new stake in shares of Marathon Digital in the first quarter valued at about $99,000. Essential Partners LLC lifted its holdings in shares of Marathon Digital by 288,266.7% in the first quarter. Essential Partners LLC now owns 8,651 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 8,648 shares in the last quarter. Western Wealth Management LLC lifted its holdings in shares of Marathon Digital by 26.1% in the first quarter. Western Wealth Management LLC now owns 27,140 shares of the business services provider’s stock valued at $221,000 after purchasing an additional 5,610 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Marathon Digital in the first quarter valued at about $2,864,000. Finally, Amundi lifted its holdings in shares of Marathon Digital by 124.2% in the first quarter. Amundi now owns 53,425 shares of the business services provider’s stock valued at $436,000 after purchasing an additional 29,595 shares in the last quarter. 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.