Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives $19.33 Consensus Target Price from Analysts

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have received a consensus recommendation of “Hold” from the eight research firms that are covering the stock, MarketBeat.com reports. One investment 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 target price among brokers that have issued a report on the stock in the last year is $19.33.

MARA has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a report on Tuesday, May 28th. StockNews.com downgraded shares of Marathon Digital from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. B. Riley lowered their price target on shares of Marathon Digital from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Chardan Capital reduced their price objective on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. dropped their target price on Marathon Digital from $16.50 to $14.00 and set an “underweight” rating for the company in a report on Tuesday, June 4th.

Insider Activity at Marathon Digital

In other news, Director Said Ouissal sold 10,217 shares of Marathon Digital stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $20.50, for a total value of $209,448.50. Following the transaction, the director now directly owns 60,046 shares in the company, valued at approximately $1,230,943. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Beaird Harris Wealth Management LLC boosted its holdings in Marathon Digital by 121.1% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after acquiring an additional 695 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Marathon Digital by 752.3% during the fourth quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock worth $39,000 after buying an additional 1,467 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Marathon Digital during the fourth quarter valued at $61,000. GAMMA Investing LLC purchased a new position in Marathon Digital in the 4th quarter worth $75,000. Finally, FinTrust Capital Advisors LLC purchased a new position in Marathon Digital in the 1st quarter worth $90,000. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Digital Trading Up 2.8 %

Shares of MARA opened at $20.02 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 23.07 and a quick ratio of 23.07. The firm has a market cap of $5.66 billion, a P/E ratio of 9.31 and a beta of 5.46. The company has a 50 day simple moving average of $18.90 and a two-hundred day simple moving average of $20.50. Marathon Digital has a 1 year low of $7.16 and a 1 year high of $34.09.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Thursday, May 9th. The business services provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). Marathon Digital had a net margin of 106.46% and a negative return on equity of 3.80%. The firm had revenue of $165.20 million for the quarter, compared to analysts’ expectations of $193.89 million. On average, equities analysts expect that Marathon Digital will post -0.55 earnings per share for the current fiscal 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.