B. Riley Raises Marathon Digital (NASDAQ:MARA) Price Target to $20.00

Marathon Digital (NASDAQ:MARA) had its target price upped by B. Riley from $18.00 to $20.00 in a research report report published on Friday, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

MARA has been the subject of a number of other reports. HC Wainwright restated a buy rating and issued a $27.00 target price on shares of Marathon Digital in a report on Thursday, June 20th. Chardan Capital decreased their price objective on Marathon Digital from $30.00 to $21.00 and set a neutral rating for the company in a research report on Wednesday, May 8th. JPMorgan Chase & Co. dropped their target price on Marathon Digital from $16.50 to $14.00 and set an underweight rating on the stock in a report on Tuesday, June 4th. StockNews.com cut shares of Marathon Digital from a hold rating to a sell rating in a report on Thursday, May 9th. Finally, Needham & Company LLC reiterated a hold rating on shares of Marathon Digital in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Marathon Digital has a consensus rating of Hold and an average price target of $19.61.

Marathon Digital Trading Up 9.2 %

Shares of NASDAQ:MARA opened at $20.77 on Friday. Marathon Digital has a twelve month low of $7.16 and a twelve month high of $34.09. The firm has a market cap of $5.87 billion, a P/E ratio of 9.66 and a beta of 5.56. The company has a 50 day moving average of $20.04 and a 200-day moving average of $20.55. The company has a current ratio of 23.07, a quick ratio of 23.07 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Thursday, May 9th. The business services provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). The business had revenue of $165.20 million during the quarter, compared to the consensus estimate of $193.89 million. Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. As a group, analysts anticipate that Marathon Digital will post -0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Said Ouissal sold 10,217 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $20.50, for a total value of $209,448.50. Following the sale, the director now owns 60,046 shares in the company, valued at $1,230,943. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.11% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC lifted its stake in Marathon Digital by 7.7% during the first quarter. Global Retirement Partners LLC now owns 9,152 shares of the business services provider’s stock worth $207,000 after purchasing an additional 658 shares during the period. Beaird Harris Wealth Management LLC lifted its position in shares of Marathon Digital by 121.1% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after buying an additional 695 shares during the period. Ameritas Investment Partners Inc. grew its position in Marathon Digital by 4.1% in the first quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock valued at $505,000 after acquiring an additional 881 shares during the period. Intrepid Financial Planning Group LLC raised its stake in Marathon Digital by 4.1% during the fourth quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider’s stock worth $555,000 after acquiring an additional 930 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Marathon Digital by 2.1% during the first quarter. Commonwealth Equity Services LLC now owns 70,974 shares of the business services provider’s stock valued at $1,603,000 after acquiring an additional 1,430 shares during the period. 44.53% of the stock is owned by institutional investors.

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.