Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has earned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $19.00.

MARA has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a report on Tuesday, May 19th. Cantor Fitzgerald decreased their target price on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Citizens Jmp initiated coverage on Marathon Digital in a research note on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 target price on the stock. Weiss Ratings downgraded shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Finally, BTIG Research restated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research report on Monday, June 1st.

Insider Activity at Marathon Digital

In related news, CFO Salman Hassan Khan sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $12.00, for a total value of $192,000.00. Following the transaction, the chief financial officer owned 425,066 shares in the company, valued at approximately $5,100,792. This represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 42,090 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $12.00, for a total value of $505,080.00. Following the transaction, the general counsel directly owned 1,007,047 shares of the company’s stock, valued at approximately $12,084,564. This trade represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 194,855 shares of company stock valued at $2,465,975 over the last quarter. 0.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC grew its stake in shares of Marathon Digital by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after acquiring an additional 991 shares during the period. NewEdge Advisors LLC raised its stake in Marathon Digital by 65.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock valued at $88,000 after acquiring an additional 3,032 shares during the period. United Services Automobile Association lifted its holdings in Marathon Digital by 8.2% during the first quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock valued at $257,000 after purchasing an additional 1,569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Marathon Digital by 11.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider’s stock worth $7,398,000 after purchasing an additional 63,903 shares during the period. Finally, Envestnet Asset Management Inc. bought a new position in Marathon Digital during the second quarter worth about $183,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Price Performance

Shares of NASDAQ MARA opened at $13.89 on Wednesday. The company has a market capitalization of $5.30 billion, a PE ratio of -2.43 and a beta of 5.38. 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 stock’s 50 day moving average price is $13.25 and its 200-day moving average price is $10.71. Marathon Digital has a twelve month low of $6.66 and a twelve month high of $23.45.

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.