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

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $18.50.

Several analysts have issued reports on the company. Morgan Stanley cut their price objective on Marathon Digital from $7.00 to $5.50 and set an “underweight” rating on the stock in a report on Wednesday, July 8th. Weiss Ratings cut shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. BTIG Research reissued a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research report on Monday, June 1st. Cantor Fitzgerald cut their price target on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Finally, Piper Sandler cut their price target on shares of Marathon Digital from $16.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, July 17th.

Marathon Digital Trading Up 17.6%

Shares of NASDAQ MARA opened at $11.82 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. Marathon Digital has a 12 month low of $6.66 and a 12 month high of $23.45. The company has a market cap of $4.51 billion, a price-to-earnings ratio of -2.07 and a beta of 5.36. The business has a fifty day simple moving average of $13.17 and a 200-day simple moving average of $11.02.

Insider Activity

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total transaction of $391,946.25. Following the transaction, the chief executive officer directly owned 4,562,009 shares in the company, valued at approximately $65,008,628.25. The trade was a 0.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas K. Mellinger sold 7,000 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $16.00, for a total transaction of $112,000.00. Following the sale, the director directly owned 231,618 shares in the company, valued at approximately $3,705,888. This trade represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 109,260 shares of company stock valued at $1,452,756. 0.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MARA. Vanguard Group Inc. lifted its stake in Marathon Digital by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock worth $419,422,000 after acquiring an additional 1,394,559 shares in the last quarter. State Street Corp grew its stake in Marathon Digital by 1.4% during the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock valued at $210,977,000 after acquiring an additional 191,380 shares in the last quarter. UBS Group AG grew its stake in Marathon Digital by 104.1% during the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock valued at $220,922,000 after acquiring an additional 6,172,110 shares in the last quarter. Marex Group plc increased its holdings in shares of Marathon Digital by 2.6% in the 4th quarter. Marex Group plc now owns 10,137,713 shares of the business services provider’s stock valued at $91,037,000 after purchasing an additional 259,210 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Marathon Digital by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock valued at $89,434,000 after purchasing an additional 251,674 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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.