Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives Average Rating of "Hold" from Brokerages

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) has earned a consensus rating of "Hold" from the eight analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $19.69.

A number of analysts have recently weighed in on the company. StockNews.com lowered Marathon Digital from a "hold" rating to a "sell" rating in a research note on Thursday, May 9th. B. Riley reduced their price objective on Marathon Digital from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Friday, May 10th. HC Wainwright dropped their price objective on Marathon Digital from $35.00 to $27.00 and set a "buy" rating on the stock in a research note on Friday, May 10th. Chardan Capital dropped their price objective on Marathon Digital from $30.00 to $21.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. raised their price objective on Marathon Digital from $16.00 to $16.50 and gave the stock an "underweight" rating in a research note on Wednesday, April 10th.

Institutional Investors Weigh In On Marathon Digital

Institutional investors have recently made changes to their positions in the stock. Beaird Harris Wealth Management LLC boosted its stake in shares of Marathon Digital by 121.1% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider's stock valued at $29,000 after buying an additional 695 shares during the period. Versant Capital Management Inc boosted its stake in shares of Marathon Digital by 752.3% in the fourth quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider's stock valued at $39,000 after buying an additional 1,467 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Marathon Digital in the fourth quarter valued at approximately $61,000. GAMMA Investing LLC bought a new stake in shares of Marathon Digital in the fourth quarter valued at approximately $75,000. Finally, FinTrust Capital Advisors LLC bought a new stake in shares of Marathon Digital in the first quarter valued at approximately $90,000. 44.53% of the stock is currently owned by institutional investors.

Marathon Digital Price Performance

Marathon Digital stock traded down $0.20 during trading hours on Friday, hitting $19.45. 48,285,291 shares of the stock were exchanged, compared to its average volume of 68,569,133. The stock has a market capitalization of $5.31 billion, a P/E ratio of 9.44 and a beta of 5.38. The business's 50-day moving average is $18.94 and its two-hundred day moving average is $18.79. The company has a debt-to-equity ratio of 0.13, a quick ratio of 23.07 and a current ratio of 23.07. Marathon Digital has a 12 month low of $7.16 and a 12 month high of $34.09.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.07). Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. The business had revenue of $156.77 million for the quarter, compared to the consensus estimate of $138.15 million. Equities research analysts expect that Marathon Digital will post -0.17 EPS for the current fiscal year.

Marathon Digital Company Profile

Marathon Digital 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 Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.