Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Rating) has earned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $24.13.

Several equities research analysts have commented on the company. Cowen assumed coverage on Marathon Digital in a research note on Friday, June 24th. They set a “market perform” rating and a $7.00 price objective for the company. Chardan Capital started coverage on Marathon Digital in a research note on Friday, June 3rd. They issued a “buy” rating and a $19.00 price objective on the stock. Compass Point dropped their price objective on Marathon Digital from $54.00 to $20.00 in a report on Tuesday, June 28th. Cowen began coverage on shares of Marathon Digital in a research note on Friday, June 24th. They set a “market perform” rating and a $7.00 target price for the company. Finally, BTIG Research decreased their target price on shares of Marathon Digital from $50.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, June 3rd.

Insider Activity at Marathon Digital

In other news, Director Kevin A. Denuccio purchased 15,424 shares of Marathon Digital stock in a transaction that occurred on Thursday, May 12th. The stock was acquired at an average price of $9.63 per share, for a total transaction of $148,533.12. Following the transaction, the director now owns 99,999 shares in the company, valued at $962,990.37. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.62% of the company’s stock.

Institutional Trading of Marathon Digital

Several large investors have recently modified their holdings of MARA. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Marathon Digital by 237.7% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 21,267 shares of the business services provider’s stock worth $114,000 after acquiring an additional 14,969 shares during the period. Van ECK Associates Corp increased its position in Marathon Digital by 54.6% in the 2nd quarter. Van ECK Associates Corp now owns 378,348 shares of the business services provider’s stock valued at $2,020,000 after acquiring an additional 133,544 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of Marathon Digital by 4.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 20,300 shares of the business services provider’s stock worth $108,000 after buying an additional 800 shares during the period. BCS Wealth Management acquired a new stake in shares of Marathon Digital during the 2nd quarter worth approximately $53,000. Finally, Manteio Capital LLC acquired a new stake in shares of Marathon Digital during the 2nd quarter worth approximately $139,000. 39.93% of the stock is owned by institutional investors.

Marathon Digital Trading Up 5.6 %

Shares of NASDAQ:MARA opened at $14.17 on Friday. Marathon Digital has a 12-month low of $5.20 and a 12-month high of $83.45. The business’s fifty day simple moving average is $8.94 and its 200-day simple moving average is $17.15. The company has a current ratio of 40.00, a quick ratio of 40.00 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $1.51 billion, a PE ratio of -10.57 and a beta of 5.35.

Marathon Digital (NASDAQ:MARAGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The business services provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.20). Marathon Digital had a positive return on equity of 19.68% and a negative net margin of 68.64%. The firm had revenue of $51.72 million for the quarter, compared to analyst estimates of $53.30 million. As a group, equities research analysts predict that Marathon Digital will post -0.03 earnings per share for the current fiscal year.

About Marathon Digital

(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.

Read More

Analyst Recommendations for Marathon Digital (NASDAQ:MARA)

Want More Great Investing Ideas?

Receive News & Ratings for Marathon Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Digital and related companies with MarketBeat.com's FREE daily email newsletter.