Marathon Digital Holdings, Inc. (NASDAQ:MARA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $22.4444.

A number of equities analysts recently commented on MARA shares. Guggenheim assumed coverage on shares of Marathon Digital in a research note on Tuesday, October 21st. They set a “neutral” rating for the company. Weiss Ratings cut Marathon Digital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. Piper Sandler dropped their price objective on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Monday, November 24th. Finally, Macquarie Infrastructure upped their price target on Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd.

Insider Activity at Marathon Digital

In other Marathon Digital news, General Counsel Zabi Nowaid sold 25,113 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $15.87, for a total transaction of $398,543.31. Following the transaction, the general counsel owned 723,136 shares of the company’s stock, valued at approximately $11,476,168.32. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $10.80, for a total value of $297,054.00. Following the sale, the chief executive officer owned 3,517,566 shares in the company, valued at $37,989,712.80. This trade represents a 0.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 178,092 shares of company stock valued at $2,153,321 in the last ninety days. Insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management lifted its stake in Marathon Digital by 2,407.4% in the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after buying an additional 1,300 shares during the last quarter. Fifth Third Bancorp raised its position in Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 683 shares during the last quarter. Estabrook Capital Management purchased a new stake in Marathon Digital in the 2nd quarter valued at $31,000. Bessemer Group Inc. boosted its stake in Marathon Digital by 56.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after purchasing an additional 659 shares during the period. Finally, IFP Advisors Inc grew its position in Marathon Digital by 375.4% during the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock worth $40,000 after purchasing an additional 2,001 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Price Performance

MARA stock opened at $8.24 on Friday. The business’s 50-day moving average is $10.36 and its two-hundred day moving average is $14.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a market capitalization of $3.12 billion, a P/E ratio of 4.58 and a beta of 5.56. Marathon Digital has a 1 year low of $6.66 and a 1 year high of $23.45.

Marathon Digital Company Profile

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.