Marathon Digital Holdings, Inc. (NASDAQ:MARA) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Marathon Digital has a consensus analyst rating of “Hold” from 11 brokerages, with seven buy ratings, two holds, and two sells. The average 12-month price target is $18.50.
• Several analysts recently adjusted their views, including Piper Sandler cutting its target to $16, Morgan Stanley initiating coverage with an underweight rating and an $8 target, and Rosenblatt raising its target to $15 with a buy rating.
• Company insiders have been selling shares, including the general counsel and CEO, while the stock recently traded at $13.39 after rising 3.5%. Marathon Digital also reported a much larger-than-expected quarterly loss and revenue below estimates.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) has received a consensus rating of "Hold" from the eleven ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $18.50.

Several research analysts have recently weighed in on the stock. Piper Sandler reduced their price target on shares of Marathon Digital from $26.00 to $16.00 and set an "overweight" rating for the company in a report on Wednesday, January 14th. Weiss Ratings cut shares of Marathon Digital from a "hold (c-)" rating to a "sell (d)" rating in a report on Friday, March 6th. Morgan Stanley assumed coverage on shares of Marathon Digital in a research report on Monday, February 9th. They issued an "underweight" rating and a $8.00 price objective on the stock. Rosenblatt Securities boosted their price objective on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Finally, HC Wainwright reissued a "neutral" rating on shares of Marathon Digital in a research report on Friday, February 27th.

Insider Transactions at Marathon Digital

In other news, General Counsel Zabi Nowaid sold 42,090 shares of the business's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $12.00, for a total value of $505,080.00. Following the sale, the general counsel owned 1,007,047 shares of the company's stock, valued at $12,084,564. The trade was a 4.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction on Friday, April 17th. The stock was sold at an average price of $11.68, for a total transaction of $321,258.40. Following the completion of the sale, the chief executive officer directly owned 4,725,219 shares in the company, valued at approximately $55,190,557.92. This represents a 0.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 172,605 shares of company stock valued at $1,745,843 over the last 90 days. 0.80% of the stock is owned by corporate insiders.

Institutional Trading of Marathon Digital

A number of institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. lifted its position in shares of Marathon Digital by 56.8% in the third 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 in the last quarter. Smartleaf Asset Management LLC raised its position in Marathon Digital by 15.9% during the third quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider's stock worth $108,000 after acquiring an additional 799 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Marathon Digital by 3.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 29,389 shares of the business services provider's stock worth $537,000 after acquiring an additional 882 shares in the last quarter. United Capital Management of KS Inc. raised its position in Marathon Digital by 2.4% during the third quarter. United Capital Management of KS Inc. now owns 40,054 shares of the business services provider's stock worth $731,000 after acquiring an additional 937 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its position in Marathon Digital by 9.8% during the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider's stock worth $127,000 after acquiring an additional 991 shares in the last quarter. Institutional investors own 44.53% of the company's stock.

Marathon Digital Stock Up 3.5%

Marathon Digital stock opened at $13.39 on Tuesday. The stock has a market capitalization of $5.10 billion, a PE ratio of -3.38 and a beta of 5.41. Marathon Digital has a twelve month low of $6.66 and a twelve month high of $23.45. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.92. The company has a 50 day moving average of $9.88 and a 200-day moving average of $10.83.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($4.29). The company had revenue of $202.31 million during the quarter, compared to analyst estimates of $250.74 million. Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. The firm's quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS. On average, equities research analysts anticipate that Marathon Digital will post -1.67 EPS for the current fiscal year.

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.

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