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

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has received a consensus rating of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $19.47.

Several research firms have recently commented on MARA. Chardan Capital raised their price target on Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, March 4th. StockNews.com raised Marathon Digital from a “sell” rating to a “hold” rating in a research note on Friday, March 8th. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Marathon Digital in a research report on Tuesday, March 19th. Finally, BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, January 17th.

Marathon Digital Stock Up 8.3 %

Shares of NASDAQ MARA opened at $22.07 on Thursday. The stock has a market cap of $5.91 billion, a PE ratio of 26.27 and a beta of 5.39. The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20. Marathon Digital has a 52-week low of $6.87 and a 52-week high of $34.09. The business has a 50-day moving average price of $21.73 and a 200 day moving average price of $16.44.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. The company had revenue of $156.77 million for the quarter, compared to analyst estimates of $138.15 million. Equities research analysts forecast that Marathon Digital will post 0.03 earnings per share for the current year.

Hedge Funds Weigh In On Marathon Digital

Several institutional investors have recently made changes to their positions in the stock. Advisor Group Holdings Inc. boosted its position in shares of Marathon Digital by 68.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 7,353 shares of the business services provider’s stock worth $25,000 after buying an additional 2,984 shares during the period. Macquarie Group Ltd. boosted its position in shares of Marathon Digital by 96.8% during the second quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider’s stock worth $29,000 after buying an additional 2,641 shares during the period. Smith Anglin Financial LLC acquired a new position in shares of Marathon Digital during the fourth quarter worth approximately $34,000. Cetera Advisors LLC acquired a new position in shares of Marathon Digital during the fourth quarter worth approximately $36,000. Finally, Quantbot Technologies LP acquired a new position in shares of Marathon Digital during the first quarter worth approximately $37,000. 44.53% of the stock is owned by institutional investors.

About Marathon Digital

Marathon Digital 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 Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.