Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Rating ) has received an average recommendation of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $17.29.
MARA is the subject of a number of research reports. Chardan Capital initiated coverage on Marathon Digital in a research report on Friday, June 3rd. They set a “buy” rating and a $19.00 price objective for the company. Cowen boosted their price objective on Marathon Digital from $7.00 to $9.00 in a report on Tuesday, August 23rd. Jefferies Financial Group decreased their price objective on Marathon Digital from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, August 11th. DA Davidson decreased their price objective on Marathon Digital from $30.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, September 15th. Finally, BTIG Research cut Marathon Digital from a “buy” rating to a “neutral” rating in a report on Friday.
Marathon Digital Stock Performance
Shares of MARA opened at $9.47 on Friday. The stock has a 50-day moving average of $12.91 and a two-hundred-day moving average of $14.36. Marathon Digital has a one year low of $5.20 and a one year high of $83.45. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.02, and a current ratio of 4.02. The stock has a market cap of $1.11 billion, a p/e ratio of -4.74 and a beta of 5.34.
Marathon Digital (NASDAQ:MARA – Get Rating) last issued its quarterly earnings results on Monday, August 8th. The business services provider reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.49). Marathon Digital had a positive return on equity of 6.10% and a negative net margin of 114.11%. The firm had revenue of $24.92 million for the quarter, compared to analyst estimates of $41.10 million. As a group, research analysts forecast that Marathon Digital will post -1.26 EPS for the current year.
Insider buying and selling
In other news, Director Kevin A. Denuccio acquired 5,000 shares of the business’s stock in a transaction on Tuesday, August 23rd. The stock was purchased at an average cost of $13.72 per share, for a total transaction of $68,600.00. Following the purchase, the director now owns 105,000 shares in the company, valued at $1,440,600. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is currently owned by insiders.
Institutional inflows and outflows
A number of large investors have recently added to or reduced their stakes in MARA. Tobam raised its stake in shares of Marathon Digital by 139.3% in the first quarter. Tobam now owns 1,247 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 726 shares in the last quarter. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Marathon Digital during the first quarter valued at about $35,000. Quantbot Technologies LP bought a new position in shares of Marathon Digital during the first quarter worth about $37,000. CWM LLC grew its holdings in shares of Marathon Digital by 50.3% during the first quarter. CWM LLC now owns 2,236 shares of the business services provider’s stock valued at $62,000 after buying an additional 748 shares during the last quarter. Finally, Accel Wealth Management bought a new position in shares of Marathon Digital during the first quarter worth about $69,000. 42.59% of the stock is currently owned by institutional investors and hedge funds.
Marathon Digital Company Profile
Marathon Digital Holdings, Inc. operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in the United States. As of December 31, 2021, it had approximately 8,115 bitcoins, which included the 4,794 bitcoins held in the investment fund.
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