Analysts Set Marathon Digital Holdings, Inc. (NASDAQ:MARA) PT at $19.22

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has earned a consensus rating of “Hold” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $19.22.

A number of research analysts recently weighed in on the stock. B. Riley lifted their price objective on shares of Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. decreased their target price on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research note on Thursday, June 20th.

Marathon Digital Trading Up 3.4 %

Shares of MARA stock opened at $16.07 on Thursday. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 7.47 and a beta of 5.51. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75. The company has a 50-day simple moving average of $17.71 and a two-hundred day simple moving average of $18.91. Marathon Digital has a 52-week low of $7.16 and a 52-week high of $34.09.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The firm had revenue of $145.14 million for the quarter, compared to the consensus estimate of $157.86 million. During the same period last year, the company posted ($0.13) earnings per share. Marathon Digital’s revenue for the quarter was up 77.5% on a year-over-year basis. Research analysts anticipate that Marathon Digital will post -1.04 EPS for the current fiscal year.

Insider Transactions at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $15.70, for a total value of $262,190.00. Following the sale, the chief financial officer now owns 2,103,347 shares in the company, valued at $33,022,547.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Marathon Digital news, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction on Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the sale, the chief executive officer now owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the completion of the transaction, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at approximately $33,022,547.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,212 shares of company stock valued at $726,178. Corporate insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its holdings in Marathon Digital by 126.5% during the second quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock valued at $15,615,000 after purchasing an additional 439,309 shares during the period. Vima LLC bought a new position in Marathon Digital in the 4th quarter valued at $949,000. Virtu Financial LLC bought a new position in shares of Marathon Digital in the fourth quarter worth about $1,629,000. Victory Capital Management Inc. grew its stake in Marathon Digital by 57.2% in the 4th quarter. Victory Capital Management Inc. now owns 29,204 shares of the business services provider’s stock worth $686,000 after acquiring an additional 10,627 shares in the last quarter. Finally, American International Group Inc. increased its holdings in Marathon Digital by 4.3% during the 1st quarter. American International Group Inc. now owns 110,489 shares of the business services provider’s stock worth $2,495,000 after purchasing an additional 4,593 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

About Marathon Digital

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.