Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives Average Rating of “Hold” from Analysts

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Rating) have earned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $12.50.

Several equities analysts have recently commented on the company. B. Riley decreased their price target on Marathon Digital from $8.00 to $6.00 in a research note on Tuesday, March 14th. DA Davidson decreased their price target on Marathon Digital from $18.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, January 12th. Finally, Jefferies Financial Group lowered Marathon Digital from a “buy” rating to a “hold” rating and decreased their price target for the company from $12.50 to $4.00 in a research note on Monday, January 9th.

Marathon Digital Stock Up 7.1 %

Shares of NASDAQ:MARA opened at $8.17 on Friday. The company has a quick ratio of 5.27, a current ratio of 5.27 and a debt-to-equity ratio of 1.25. The business has a fifty day moving average of $7.06 and a two-hundred day moving average of $8.21. The stock has a market cap of $954.34 million, a P/E ratio of -3.36 and a beta of 5.05. Marathon Digital has a 52-week low of $3.11 and a 52-week high of $32.74.

Insider Buying and Selling

In other news, Director Douglas K. Mellinger bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 19th. The shares were purchased at an average price of $3.84 per share, with a total value of $38,400.00. Following the purchase, the director now owns 18,771 shares in the company, valued at $72,080.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marathon Digital

Several hedge funds have recently bought and sold shares of MARA. Quantbot Technologies LP acquired a new stake in Marathon Digital in the 1st quarter valued at about $37,000. Captrust Financial Advisors raised its position in Marathon Digital by 83.9% in the 1st quarter. Captrust Financial Advisors now owns 2,750 shares of the business services provider’s stock valued at $77,000 after purchasing an additional 1,255 shares in the last quarter. CI Investments Inc. acquired a new stake in Marathon Digital in the 2nd quarter valued at about $25,000. Macquarie Group Ltd. raised its position in Marathon Digital by 96.8% in the 2nd quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 2,641 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Marathon Digital in the 1st quarter valued at about $163,000. Institutional investors and hedge funds own 39.88% of the company’s stock.

Marathon Digital Company Profile

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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.