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Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives Average Recommendation of "Moderate Buy" from Analysts

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Key Points

  • Marathon Digital has an average analyst rating of “Moderate Buy” from 12 firms, with eight buy ratings, two holds, and two sells. The average 1-year price target is $18.50, above the stock’s recent trading price.
  • Recent analyst actions were mixed: Rosenblatt and BTIG maintained bullish views with higher targets, while Cantor Fitzgerald and Piper Sandler trimmed their price targets. Weiss Ratings also downgraded the stock slightly, reflecting some caution around the name.
  • Insiders have been selling shares, including the general counsel and CFO, and over the last 90 days insiders sold 109,260 shares total. Institutional ownership remains significant at 44.53%.
  • MarketBeat previews top five stocks to own in August.

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twelve ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $18.50.

Several analysts recently weighed in on the stock. Rosenblatt Securities raised their target price on shares of Marathon Digital from $11.00 to $15.00 and gave the company a "buy" rating in a report on Friday, May 1st. BTIG Research reiterated a "buy" rating and set a $27.00 target price on shares of Marathon Digital in a research note on Monday, June 1st. Cantor Fitzgerald dropped their target price on Marathon Digital from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. Piper Sandler decreased their price target on Marathon Digital from $16.00 to $13.00 and set an "overweight" rating for the company in a report on Friday, July 17th. Finally, Weiss Ratings downgraded Marathon Digital from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, May 12th.

View Our Latest Stock Report on Marathon Digital

Marathon Digital Price Performance

Shares of NASDAQ MARA opened at $12.12 on Friday. 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 cap of $4.62 billion, a price-to-earnings ratio of -2.12 and a beta of 5.36. The stock's 50-day moving average is $13.30 and its two-hundred day moving average is $10.99. Marathon Digital has a 1-year low of $6.66 and a 1-year high of $23.45.

Insiders Place Their Bets

In other Marathon Digital news, General Counsel Zabi Nowaid sold 8,250 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $12.00, for a total value of $99,000.00. Following the transaction, the general counsel directly owned 970,768 shares in the company, valued at $11,649,216. This 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 at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Hassan Khan sold 16,000 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $12.00, for a total transaction of $192,000.00. Following the sale, the chief financial officer owned 425,066 shares of the company's stock, valued at $5,100,792. This represents a 3.63% 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. Over the last ninety days, insiders sold 109,260 shares of company stock valued at $1,452,756. 0.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marathon Digital

Several large investors have recently bought and sold shares of the stock. Danske Bank A S acquired a new stake in shares of Marathon Digital during the third quarter worth about $55,000. Ascentis Independent Advisors acquired a new stake in shares of Marathon Digital in the 1st quarter valued at about $28,000. CoreCap Advisors LLC boosted its position in shares of Marathon Digital by 128.0% in the 2nd quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider's stock valued at $51,000 after purchasing an additional 2,050 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in Marathon Digital during the 4th quarter worth approximately $36,000. Finally, Bogart Wealth LLC grew its stake in Marathon Digital by 4,345.1% during the 1st quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider's stock worth $33,000 after buying an additional 3,954 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company's stock.

Marathon Digital News Summary

Here are the key news stories impacting Marathon Digital this week:

About Marathon Digital

(Get Free Report)

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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Analyst Recommendations for Marathon Digital (NASDAQ:MARA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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