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

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Free Report) have earned an average recommendation of “Hold” from the eight analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $17.33.

Several equities analysts have issued reports on the stock. StockNews.com cut shares of Marathon Digital from a “hold” rating to a “sell” rating in a research note on Wednesday, February 14th. BTIG Research upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, January 17th. Finally, HC Wainwright upped their target price on shares of Marathon Digital from $24.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday.

Check Out Our Latest Stock Report on MARA

Marathon Digital Stock Up 4.2 %

NASDAQ:MARA opened at $27.00 on Friday. The company has a market capitalization of $7.23 billion, a PE ratio of 32.14 and a beta of 5.39. The firm’s 50-day moving average price is $22.69 and its 200-day moving average price is $15.26. Marathon Digital has a 1-year low of $5.13 and a 1-year high of $34.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 11.33 and a quick ratio of 11.33.

Marathon Digital (NASDAQ:MARAGet Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The firm had revenue of $156.77 million during the quarter, compared to the consensus estimate of $138.15 million. Marathon Digital had a negative return on equity of 6.05% and a net margin of 48.93%. On average, equities analysts predict that Marathon Digital will post 0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

Several institutional investors have recently made changes to their positions in MARA. Bank of New York Mellon Corp lifted its stake in shares of Marathon Digital by 1.0% in the 1st quarter. Bank of New York Mellon Corp now owns 474,377 shares of the business services provider’s stock worth $13,259,000 after purchasing an additional 4,843 shares during the period. HighTower Advisors LLC increased its holdings in Marathon Digital by 17.6% in the 1st quarter. HighTower Advisors LLC now owns 57,486 shares of the business services provider’s stock worth $1,607,000 after acquiring an additional 8,588 shares in the last quarter. Private Advisor Group LLC increased its holdings in Marathon Digital by 6.1% in the 1st quarter. Private Advisor Group LLC now owns 17,709 shares of the business services provider’s stock worth $495,000 after acquiring an additional 1,015 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Marathon Digital by 54.7% in the 1st quarter. MetLife Investment Management LLC now owns 52,851 shares of the business services provider’s stock worth $1,477,000 after acquiring an additional 18,693 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Marathon Digital by 33.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,230 shares of the business services provider’s stock worth $398,000 after acquiring an additional 3,601 shares in the last quarter. Institutional investors own 39.02% of the company’s stock.

Marathon Digital Company Profile

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Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the blockchain ecosystem and the generation of digital assets 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.

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Analyst Recommendations for Marathon Digital (NASDAQ:MARA)

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