Brokerages Set Marathon Digital Holdings, Inc. (NASDAQ:MARA) PT at $21.11

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has earned a consensus rating of “Hold” from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $21.11.

A number of brokerages have issued reports on MARA. BTIG Research upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Wednesday, January 17th. StockNews.com upgraded Marathon Digital from a “sell” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. HC Wainwright reiterated a “buy” rating and set a $35.00 price target on shares of Marathon Digital in a research report on Tuesday, March 19th. Finally, Chardan Capital upped their price objective on Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, March 4th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MARA. Vanguard Group Inc. increased its position in Marathon Digital by 26.7% in the 4th quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock worth $551,395,000 after purchasing an additional 4,950,392 shares during the last quarter. Hel Ved Capital Management Ltd acquired a new position in Marathon Digital in the 4th quarter worth about $11,531,000. Charles Schwab Investment Management Inc. increased its position in Marathon Digital by 29.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock worth $42,840,000 after purchasing an additional 410,146 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Marathon Digital by 105.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 697,498 shares of the business services provider’s stock worth $5,929,000 after purchasing an additional 358,220 shares during the last quarter. Finally, Barclays PLC increased its position in Marathon Digital by 159.2% in the 3rd quarter. Barclays PLC now owns 120,173 shares of the business services provider’s stock worth $1,021,000 after purchasing an additional 323,134 shares during the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

Marathon Digital Price Performance

Shares of NASDAQ MARA opened at $19.43 on Monday. Marathon Digital has a twelve month low of $7.16 and a twelve month high of $34.09. The company has a current ratio of 30.50, a quick ratio of 30.51 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 23.13 and a beta of 5.36. The business has a 50 day simple moving average of $20.96 and a 200-day simple moving average of $17.81.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The company had revenue of $156.77 million for the quarter, compared to the consensus estimate of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. As a group, equities research analysts expect that Marathon Digital will post -0.04 earnings per share for the current year.

Marathon Digital Company Profile

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem 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. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.