Marathon Digital (MARA) Set to Announce Quarterly Earnings on Monday

Marathon Digital (NASDAQ:MARAGet Rating) is scheduled to be issuing its quarterly earnings data after the market closes on Monday, August 8th. Analysts expect the company to announce earnings of ($0.18) per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Marathon Digital (NASDAQ:MARAGet Rating) last announced its earnings results on Wednesday, May 4th. The business services provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.20). The business had revenue of $51.72 million for the quarter, compared to the consensus estimate of $53.30 million. Marathon Digital had a negative net margin of 68.64% and a positive return on equity of 19.68%. On average, analysts expect Marathon Digital to post $0 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Marathon Digital Stock Up 5.6 %

Shares of Marathon Digital stock opened at $14.17 on Friday. The business’s fifty day moving average price is $8.94 and its two-hundred day moving average price is $17.15. The company has a debt-to-equity ratio of 0.94, a current ratio of 40.00 and a quick ratio of 40.00. The company has a market capitalization of $1.51 billion, a P/E ratio of -10.57 and a beta of 5.35. Marathon Digital has a 1-year low of $5.20 and a 1-year high of $83.45.

Insider Buying and Selling

In related news, Director Kevin A. Denuccio acquired 15,424 shares of the firm’s stock in a transaction dated Thursday, May 12th. The stock was bought at an average price of $9.63 per share, for a total transaction of $148,533.12. Following the acquisition, the director now directly owns 99,999 shares of the company’s stock, valued at $962,990.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.62% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marathon Digital

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP bought a new stake in shares of Marathon Digital in the first quarter worth $37,000. Captrust Financial Advisors raised its holdings in shares of Marathon Digital by 83.9% in the 1st quarter. Captrust Financial Advisors now owns 2,750 shares of the business services provider’s stock worth $77,000 after acquiring an additional 1,255 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Marathon Digital in the 1st quarter worth about $163,000. Atria Wealth Solutions Inc. bought a new position in shares of Marathon Digital during the 1st quarter valued at approximately $240,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Marathon Digital by 33.9% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,230 shares of the business services provider’s stock valued at $398,000 after acquiring an additional 3,601 shares during the period. 39.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MARA has been the topic of several recent analyst reports. Compass Point cut their target price on Marathon Digital from $54.00 to $20.00 in a research note on Tuesday, June 28th. B. Riley cut their target price on Marathon Digital from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 12th. Cowen assumed coverage on Marathon Digital in a research note on Friday, June 24th. They issued a “market perform” rating and a $7.00 price objective on the stock. BTIG Research dropped their price objective on Marathon Digital from $50.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, June 3rd. Finally, Cowen assumed coverage on Marathon Digital in a research note on Friday, June 24th. They issued a “market perform” rating and a $7.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Marathon Digital presently has an average rating of “Moderate Buy” and an average price target of $24.13.

Marathon Digital Company Profile

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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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Earnings History for Marathon Digital (NASDAQ:MARA)

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