Morgan Stanley Issues Positive Forecast for Marathon Digital (NASDAQ:MARA) Stock Price

Key Points

• Morgan Stanley raised Marathon Digital’s price target from $5.50 to $6.00 but maintained an “underweight” rating, implying roughly 36% downside from the stock’s reported $9.39 price.
• Analyst sentiment remains mixed: Marathon has an overall “Moderate Buy” consensus, with an average price target of $18.78, despite ratings ranging from sell to buy.
• The company reported a significant quarterly loss, missing earnings and revenue expectations, while shares fell 2.6% during the reported trading session. Insiders have also sold 109,260 shares worth about $1.45 million over the last quarter.

Marathon Digital (NASDAQ:MARA - Get Free Report) had its price objective boosted by stock analysts at Morgan Stanley from $5.50 to $6.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "underweight" rating on the business services provider's stock. Morgan Stanley's target price points to a potential downside of 36.09% from the company's current price.

Other equities analysts also recently issued research reports about the company. Piper Sandler decreased their target price on Marathon Digital from $16.00 to $13.00 and set an "overweight" rating on the stock in a research report on Friday, July 17th. Citizens Jmp began coverage on Marathon Digital in a research note on Wednesday, June 24th. They issued a "market outperform" rating and a $24.00 price target for the company. Rosenblatt Securities reiterated a "buy" rating and set a $15.00 price objective on shares of Marathon Digital in a research report on Friday, August 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Marathon Digital in a report on Friday, August 7th. Finally, 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. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Marathon Digital presently has an average rating of "Moderate Buy" and an average price target of $18.78.

Marathon Digital Stock Down 2.6%

Shares of MARA stock traded down $0.25 during trading on Thursday, reaching $9.39. The company's stock had a trading volume of 5,206,611 shares, compared to its average volume of 45,406,414. Marathon Digital has a one year low of $6.66 and a one year high of $23.45. The business has a fifty day moving average price of $12.53 and a 200-day moving average price of $11.01. The company has a market cap of $3.63 billion, a price-to-earnings ratio of -1.04 and a beta of 5.40. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.15.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($1.77). The company had revenue of $174.88 million during the quarter, compared to the consensus estimate of $209.44 million. Marathon Digital had a negative net margin of 429.71% and a negative return on equity of 26.05%. The firm's revenue for the quarter was down 26.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.84 earnings per share. Analysts anticipate that Marathon Digital will post -2.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total transaction of $391,946.25. Following the completion of the transaction, the chief executive officer owned 4,562,009 shares of the company's stock, valued at approximately $65,008,628.25. The trade was a 0.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 the company's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $16.00, for a total value of $112,000.00. Following the sale, the director owned 231,618 shares of the company's stock, valued at approximately $3,705,888. This represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 109,260 shares of company stock worth $1,452,756. 0.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marathon Digital

Hedge funds have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. increased its position in Marathon Digital by 24.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 50,275 shares of the business services provider's stock worth $698,000 after purchasing an additional 9,873 shares in the last quarter. GAMMA Investing LLC boosted its position in Marathon Digital by 20.0% in the second quarter. GAMMA Investing LLC now owns 25,506 shares of the business services provider's stock valued at $354,000 after buying an additional 4,246 shares in the last quarter. Moody National Bank Trust Division acquired a new stake in Marathon Digital in the second quarter valued at approximately $1,858,000. CoreCap Advisors LLC grew its stake in shares of Marathon Digital by 128.0% during the second quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider's stock worth $51,000 after buying an additional 2,050 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Marathon Digital by 257.3% during the second quarter. Versant Capital Management Inc now owns 4,966 shares of the business services provider's stock worth $69,000 after buying an additional 3,576 shares during the last quarter. 44.53% of the stock is currently 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.

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