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

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have received a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $22.4444.

MARA has been the subject of several recent research reports. Rosenblatt Securities lowered their price objective on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Marathon Digital in a research note on Monday, December 29th. Macquarie increased their price objective 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. decreased their target price on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Finally, Piper Sandler lowered their target price on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th.

Insider Transactions at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $10.80, for a total value of $297,054.00. Following the completion of the transaction, the chief executive officer owned 3,517,566 shares in the company, valued at $37,989,712.80. The trade was a 0.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $11.99, for a total transaction of $416,436.68. Following the transaction, the chief financial officer owned 283,298 shares of the company’s stock, valued at $3,396,743.02. This trade represents a 10.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 182,979 shares of company stock valued at $2,234,934. 0.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marathon Digital

Several institutional investors have recently modified their holdings of MARA. UBS Group AG grew its stake in shares of Marathon Digital by 104.1% during the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after purchasing an additional 6,172,110 shares in the last quarter. Marex Group plc acquired a new stake in Marathon Digital in the second quarter valued at $84,301,000. Voloridge Investment Management LLC purchased a new stake in Marathon Digital during the 3rd quarter worth about $93,066,000. Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 4,049,979 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Marathon Digital during the 2nd quarter worth about $59,255,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

Marathon Digital Trading Down 3.7%

Shares of NASDAQ MARA opened at $9.50 on Friday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $3.59 billion, a PE ratio of 5.28 and a beta of 5.34. Marathon Digital has a twelve month low of $8.95 and a twelve month high of $23.45. The stock has a fifty day simple moving average of $10.66 and a 200-day simple moving average of $14.75.

Marathon Digital (NASDAQ:MARA) last announced 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 forecast that Marathon Digital will post -1.04 earnings per share for the current year.

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.