Marathon Digital (NASDAQ:MARA) PT Lowered to $16.00 at BTIG Research

Marathon Digital (NASDAQ:MARA – Get Rating) had its target price decreased by equities research analysts at BTIG Research from $50.00 to $16.00 in a research note issued on Friday, The Fly reports. BTIG Research’s price objective suggests a potential upside of 71.31% from the company’s current price.

Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Marathon Digital from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 24th. Compass Point boosted their price objective on Marathon Digital from $54.00 to $66.00 and gave the company a “na” rating in a research note on Tuesday, May 24th. Finally, B. Riley cut their price objective on Marathon Digital from $57.00 to $36.00 in a research note on Thursday, May 5th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Marathon Digital currently has an average rating of “Buy” and a consensus target price of $49.67.

Shares of NASDAQ:MARA opened at $9.34 on Friday. The stock has a 50 day moving average of $17.46 and a 200 day moving average of $26.94. The company has a market cap of $992.94 million, a PE ratio of -6.97 and a beta of 4.70. The company has a current ratio of 40.00, a quick ratio of 40.00 and a debt-to-equity ratio of 0.94. Marathon Digital has a 12-month low of $8.53 and a 12-month high of $83.45.

Marathon Digital (NASDAQ:MARA – Get Rating) last announced its quarterly earnings data on Tuesday, March 1st. The business services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $60.28 million during the quarter, compared to the consensus estimate of $60.23 million. Marathon Digital had a positive return on equity of 19.68% and a negative net margin of 68.64%. Equities research analysts predict that Marathon Digital will post 0.88 earnings per share for the current fiscal year.

In other Marathon Digital news, Director Kevin A. Denuccio purchased 15,424 shares of the stock in a transaction that occurred on Thursday, May 12th. The shares were bought at an average cost of $9.63 per share, with a total value of $148,533.12. Following the acquisition, the director now owns 99,999 shares in the company, valued at $962,990.37. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.62% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC raised its holdings in shares of Marathon Digital by 13.4% during the 3rd quarter. HighTower Advisors LLC now owns 42,056 shares of the business services provider’s stock worth $1,322,000 after acquiring an additional 4,974 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Marathon Digital by 887.7% during the 3rd quarter. Wellington Management Group LLP now owns 371,365 shares of the business services provider’s stock worth $11,727,000 after acquiring an additional 333,767 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Marathon Digital by 17.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 112,841 shares of the business services provider’s stock worth $3,708,000 after acquiring an additional 17,147 shares in the last quarter. Morgan Stanley raised its holdings in shares of Marathon Digital by 43.2% during the 3rd quarter. Morgan Stanley now owns 934,919 shares of the business services provider’s stock worth $29,525,000 after acquiring an additional 282,177 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Marathon Digital by 871.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,417,438 shares of the business services provider’s stock worth $46,577,000 after acquiring an additional 1,271,500 shares in the last quarter. 39.93% of the stock is currently owned by institutional investors.

Marathon Digital Company Profile (Get Rating)

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 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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