Analysts Set Marathon Digital Holdings, Inc. (NASDAQ:MARA) Price Target at $20.00

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has earned a consensus recommendation of “Hold” from the twelve research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $20.00.

A number of equities research analysts have recently issued reports on MARA shares. Cantor Fitzgerald cut their target price on shares of Marathon Digital from $21.00 to $11.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Morgan Stanley assumed coverage on Marathon Digital in a research note on Monday, February 9th. They issued an “underweight” rating and a $8.00 price target for the company. HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Weiss Ratings downgraded Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, March 6th. Finally, Piper Sandler decreased their target price on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th.

Marathon Digital Price Performance

MARA stock opened at $8.02 on Monday. Marathon Digital has a twelve month low of $6.66 and a twelve month high of $23.45. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $3.05 billion, a P/E ratio of -2.03 and a beta of 5.51. The firm has a 50 day simple moving average of $8.78 and a 200-day simple moving average of $12.48.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($4.29). The company had revenue of $202.31 million during the quarter, compared to analyst estimates of $250.74 million. Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.24 earnings per share. On average, equities research analysts predict that Marathon Digital will post -1.04 earnings per share for the current fiscal year.

Insider Activity at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $9.18, for a total transaction of $252,495.90. Following the transaction, the chief executive officer directly owned 4,788,954 shares in the company, valued at $43,962,597.72. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $9.18, for a total transaction of $146,880.00. Following the sale, the chief financial officer owned 343,165 shares of the company’s stock, valued at approximately $3,150,254.70. The trade was a 4.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 114,515 shares of company stock worth $1,029,678. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Institutional investors and hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. grew its stake in shares of Marathon Digital by 56.8% in the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after purchasing an additional 659 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Marathon Digital by 15.9% during the third quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider’s stock valued at $108,000 after purchasing an additional 799 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Marathon Digital by 3.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 29,389 shares of the business services provider’s stock worth $537,000 after buying an additional 882 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Marathon Digital by 2.7% during the second quarter. Ameritas Investment Partners Inc. now owns 35,443 shares of the business services provider’s stock worth $556,000 after buying an additional 934 shares in the last quarter. Finally, United Capital Management of KS Inc. grew its position in Marathon Digital by 2.4% in the third quarter. United Capital Management of KS Inc. now owns 40,054 shares of the business services provider’s stock worth $731,000 after buying an additional 937 shares during the last quarter. Institutional investors and hedge funds 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.