Marathon Digital (NASDAQ:MARA) Given Hold (C) Rating at Weiss Ratings

Key Points

• Weiss Ratings has maintained a "hold (c)" rating for Marathon Digital (NASDAQ:MARA), while other analysts have mixed reviews, with a range of price targets from $20 to $29.
• Marathon Digital recently posted earnings of $1.84 per share, significantly exceeding the consensus estimate, with revenues up 64.0% year-over-year to $238.5 million.
• Insider transactions include significant stock sales by the director and CEO, indicating a decrease in ownership percentages for both individuals.

Marathon Digital (NASDAQ:MARA - Get Free Report)'s stock had its "hold (c)" rating restated by Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

A number of other analysts have also issued reports on the company. BTIG Research reiterated a "buy" rating and issued a $27.00 price target on shares of Marathon Digital in a report on Friday, September 5th. JPMorgan Chase & Co. lowered their price target on Marathon Digital from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Friday, September 26th. Rosenblatt Securities boosted their price target on Marathon Digital from $20.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, October 16th. Piper Sandler boosted their price target on Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Finally, Macquarie boosted their price target on Marathon Digital from $26.00 to $29.00 and gave the company an "outperform" rating in a report on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.20.

Marathon Digital Trading Up 1.7%

NASDAQ MARA traded up $0.32 during trading hours on Friday, hitting $19.54. 30,641,798 shares of the company were exchanged, compared to its average volume of 57,914,216. The stock has a 50-day moving average price of $17.71 and a 200 day moving average price of $16.29. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. Marathon Digital has a 52 week low of $9.81 and a 52 week high of $30.28. The stock has a market cap of $7.24 billion, a PE ratio of 17.60 and a beta of 6.33.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $2.13. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The business had revenue of $238.50 million during the quarter, compared to analyst estimates of $212.25 million. During the same quarter in the previous year, the business earned ($0.72) earnings per share. The company's revenue for the quarter was up 64.0% compared to the same quarter last year. Analysts forecast that Marathon Digital will post -1.04 earnings per share for the current fiscal year.

Insider Transactions at Marathon Digital

In other news, Director Vicki Mealer-Burke sold 14,887 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $15.22, for a total transaction of $226,580.14. Following the transaction, the director directly owned 58,103 shares of the company's stock, valued at approximately $884,327.66. This represents a 20.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction on Friday, October 17th. The stock was sold at an average price of $19.57, for a total value of $538,272.85. Following the transaction, the chief executive officer directly owned 3,718,700 shares in the company, valued at approximately $72,774,959. The trade was a 0.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 204,598 shares of company stock valued at $3,616,374. Corporate insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On Marathon Digital

A number of large investors have recently made changes to their positions in MARA. Janney Montgomery Scott LLC increased its position in shares of Marathon Digital by 307.7% during the first quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider's stock worth $729,000 after purchasing an additional 47,826 shares in the last quarter. Western Wealth Management LLC increased its position in shares of Marathon Digital by 24.7% during the first quarter. Western Wealth Management LLC now owns 23,029 shares of the business services provider's stock worth $265,000 after purchasing an additional 4,555 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Marathon Digital by 1,521.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider's stock worth $147,000 after purchasing an additional 12,032 shares in the last quarter. KBC Group NV increased its position in shares of Marathon Digital by 19.3% in the 1st quarter. KBC Group NV now owns 13,725 shares of the business services provider's stock valued at $158,000 after acquiring an additional 2,220 shares during the period. Finally, Amalgamated Bank increased its position in shares of Marathon Digital by 4.3% in the 1st quarter. Amalgamated Bank now owns 96,737 shares of the business services provider's stock valued at $1,112,000 after acquiring an additional 3,996 shares during the period. 44.53% of the stock is owned by institutional investors and hedge funds.

Marathon Digital Company Profile

MARA 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 Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.

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