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

Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Free Report) has been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $15.76.

Several brokerages have commented on MARA. Sanford C. Bernstein started coverage on shares of Marathon Digital in a research note on Tuesday, October 31st. They set a “market perform” rating and a $8.30 price objective for the company. HC Wainwright boosted their price target on shares of Marathon Digital from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. StockNews.com cut shares of Marathon Digital from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. BTIG Research raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, January 17th. Finally, JPMorgan Chase & Co. began coverage on shares of Marathon Digital in a research report on Wednesday, October 11th. They set an “underweight” rating and a $5.00 price target on the stock.

Read Our Latest Report on Marathon Digital

Marathon Digital Stock Up 2.5 %

MARA stock opened at $17.06 on Wednesday. The firm has a 50 day moving average of $19.66 and a 200 day moving average of $13.99. The stock has a market capitalization of $3.80 billion, a PE ratio of -5.74 and a beta of 5.44. The company has a quick ratio of 11.33, a current ratio of 11.33 and a debt-to-equity ratio of 0.32. Marathon Digital has a 52 week low of $5.13 and a 52 week high of $31.30.

Marathon Digital (NASDAQ:MARAGet Free Report) last released its earnings results on Wednesday, November 8th. The business services provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Marathon Digital had a negative return on equity of 8.68% and a negative net margin of 136.97%. The company had revenue of $97.85 million during the quarter, compared to analyst estimates of $99.60 million. Sell-side analysts forecast that Marathon Digital will post -0.09 earnings per share for the current year.

Institutional Trading of Marathon Digital

A number of institutional investors and hedge funds have recently bought and sold shares of MARA. Advisor Group Holdings Inc. increased its stake in shares of Marathon Digital by 68.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 7,353 shares of the business services provider’s stock worth $25,000 after buying an additional 2,984 shares during the period. Macquarie Group Ltd. lifted its holdings in shares of Marathon Digital by 96.8% during the second quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider’s stock worth $29,000 after purchasing an additional 2,641 shares during the period. Smith Anglin Financial LLC acquired a new stake in shares of Marathon Digital during the fourth quarter worth $34,000. Cetera Advisors LLC acquired a new stake in shares of Marathon Digital during the fourth quarter worth $36,000. Finally, Quantbot Technologies LP purchased a new position in Marathon Digital in the first quarter worth $37,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

About Marathon Digital

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Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the blockchain ecosystem and the generation of digital assets in United States. The company was formerly known as Marathon Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021.

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Analyst Recommendations for Marathon Digital (NASDAQ:MARA)

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