Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives Average Rating of “Hold” from Analysts

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $19.22.

Several research analysts recently issued reports on the stock. B. Riley raised their target price on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a report on Thursday, June 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd.

Institutional Trading of Marathon Digital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in Marathon Digital by 126.5% during the second quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock valued at $15,615,000 after buying an additional 439,309 shares during the period. Vima LLC acquired a new stake in shares of Marathon Digital in the fourth quarter valued at about $949,000. Virtu Financial LLC acquired a new stake in shares of Marathon Digital in the fourth quarter valued at about $1,629,000. Victory Capital Management Inc. grew its position in shares of Marathon Digital by 57.2% in the fourth quarter. Victory Capital Management Inc. now owns 29,204 shares of the business services provider’s stock valued at $686,000 after purchasing an additional 10,627 shares during the period. Finally, American International Group Inc. grew its position in shares of Marathon Digital by 4.3% in the first quarter. American International Group Inc. now owns 110,489 shares of the business services provider’s stock valued at $2,495,000 after purchasing an additional 4,593 shares during the period. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Trading Down 3.3 %

NASDAQ MARA opened at $15.34 on Thursday. The company has a fifty day simple moving average of $18.06 and a two-hundred day simple moving average of $19.10. The stock has a market cap of $4.34 billion, a P/E ratio of 7.13 and a beta of 5.51. Marathon Digital has a 12-month low of $7.16 and a 12-month high of $34.09. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The company had revenue of $145.14 million during the quarter, compared to analysts’ expectations of $157.86 million. During the same period in the prior year, the business posted ($0.13) EPS. The company’s quarterly revenue was up 77.5% on a year-over-year basis. On average, analysts forecast that Marathon Digital will post -1.04 earnings per share for the current year.

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.