FY2022 Earnings Estimate for Marathon Digital Holdings, Inc. (NASDAQ:MARA) Issued By B. Riley

Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Rating) – Stock analysts at B. Riley decreased their FY2022 EPS estimates for shares of Marathon Digital in a note issued to investors on Tuesday, March 14th. B. Riley analyst L. Pipes now expects that the business services provider will earn ($1.36) per share for the year, down from their prior forecast of ($1.35). The consensus estimate for Marathon Digital’s current full-year earnings is ($1.28) per share. B. Riley also issued estimates for Marathon Digital’s Q1 2023 earnings at ($0.16) EPS, Q2 2023 earnings at ($0.14) EPS, Q3 2023 earnings at ($0.12) EPS, Q4 2023 earnings at ($0.03) EPS, FY2023 earnings at ($0.46) EPS and FY2024 earnings at $0.57 EPS.

Several other research analysts also recently commented on MARA. DA Davidson reduced their target price on Marathon Digital from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, January 12th. Jefferies Financial Group cut shares of Marathon Digital from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $12.50 to $4.00 in a research report on Monday, January 9th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.89.

Marathon Digital Stock Performance

Shares of MARA opened at $7.63 on Thursday. The company has a market cap of $891.26 million, a PE ratio of -3.14 and a beta of 5.05. The firm has a 50-day moving average of $6.98 and a 200-day moving average of $8.26. Marathon Digital has a one year low of $3.11 and a one year high of $32.74. The company has a debt-to-equity ratio of 1.25, a current ratio of 5.27 and a quick ratio of 5.27.

Insiders Place Their Bets

In other news, Director Douglas K. Mellinger purchased 10,000 shares of Marathon Digital stock in a transaction that occurred on Wednesday, December 28th. The shares were acquired at an average price of $3.27 per share, for a total transaction of $32,700.00. Following the transaction, the director now owns 28,771 shares of the company’s stock, valued at approximately $94,081.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MARA. Bank of New York Mellon Corp grew its stake in shares of Marathon Digital by 1.0% during the first quarter. Bank of New York Mellon Corp now owns 474,377 shares of the business services provider’s stock worth $13,259,000 after buying an additional 4,843 shares during the last quarter. HighTower Advisors LLC increased its holdings in Marathon Digital by 17.6% in the 1st quarter. HighTower Advisors LLC now owns 57,486 shares of the business services provider’s stock worth $1,607,000 after purchasing an additional 8,588 shares in the last quarter. Private Advisor Group LLC increased its holdings in Marathon Digital by 6.1% in the 1st quarter. Private Advisor Group LLC now owns 17,709 shares of the business services provider’s stock worth $495,000 after purchasing an additional 1,015 shares in the last quarter. MetLife Investment Management LLC raised its position in Marathon Digital by 54.7% in the first quarter. MetLife Investment Management LLC now owns 52,851 shares of the business services provider’s stock valued at $1,477,000 after purchasing an additional 18,693 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Marathon Digital by 33.9% during the first 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 purchasing an additional 3,601 shares in the last quarter. Institutional investors own 39.88% of the company’s stock.

About Marathon Digital

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Marathon Digital Holdings, Inc is a digital asset technology company, which engages in mining cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets. The company was founded on February 23, 2010 and is headquartered in Las Vegas, NV.