Analysts Set Marathon Digital Holdings, Inc. (NASDAQ:MARA) Price Target at $18.50

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $18.50.

Several research firms have recently weighed in on MARA. BTIG Research reissued a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research report on Monday, June 1st. Piper Sandler reduced their price target on shares of Marathon Digital from $16.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Morgan Stanley decreased their price target on Marathon Digital from $7.00 to $5.50 and set an “underweight” rating for the company in a research note on Wednesday, July 8th. Cantor Fitzgerald lowered their price objective on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Finally, Rosenblatt Securities upped their price objective on Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, May 1st.

Marathon Digital Trading Down 3.3%

NASDAQ MARA opened at $11.38 on Friday. Marathon Digital has a 12 month low of $6.66 and a 12 month high of $23.45. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of -1.99 and a beta of 5.36. The company’s fifty day moving average price is $13.27 and its two-hundred day moving average price is $11.01.

Insider Transactions at Marathon Digital

In related news, General Counsel Zabi Nowaid sold 8,250 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $12.00, for a total transaction of $99,000.00. Following the transaction, the general counsel directly owned 970,768 shares in the company, valued at $11,649,216. This trade represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas K. Mellinger sold 7,000 shares of Marathon Digital stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $16.00, for a total transaction of $112,000.00. Following the completion of the transaction, the director directly owned 231,618 shares of the company’s stock, valued at approximately $3,705,888. This represents a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 109,260 shares of company stock worth $1,452,756 in the last quarter. Insiders own 0.97% of the company’s stock.

Institutional Trading of Marathon Digital

Institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC grew its position in shares of Marathon Digital by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock valued at $127,000 after buying an additional 991 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Marathon Digital by 65.3% in the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock valued at $88,000 after acquiring an additional 3,032 shares during the period. United Services Automobile Association boosted its stake in Marathon Digital by 8.2% in the first quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock valued at $257,000 after acquiring an additional 1,569 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Marathon Digital by 11.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider’s stock valued at $7,398,000 after acquiring an additional 63,903 shares during the period. Finally, Envestnet Asset Management Inc. bought a new position in shares of Marathon Digital during the second quarter valued at approximately $183,000. 44.53% of the stock is owned by institutional investors and hedge funds.

About Marathon Digital

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.