Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives Average Recommendation of “Hold” from Brokerages

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have earned an average rating of “Hold” from the eight brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $19.69.

MARA has been the subject of several recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Marathon Digital in a report on Friday, May 10th. B. Riley dropped their price target on shares of Marathon Digital from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. StockNews.com cut shares of Marathon Digital from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. HC Wainwright decreased their price objective on shares of Marathon Digital from $35.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, Chardan Capital cut their target price 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MARA. Vanguard Group Inc. lifted its stake in Marathon Digital by 1.9% in the first quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock valued at $540,002,000 after purchasing an additional 441,455 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Marathon Digital by 29.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock valued at $42,840,000 after buying an additional 410,146 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Marathon Digital by 29.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock worth $30,429,000 after acquiring an additional 296,776 shares during the period. Exchange Traded Concepts LLC increased its holdings in Marathon Digital by 13.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 793,444 shares of the business services provider’s stock worth $18,638,000 after acquiring an additional 95,946 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Marathon Digital by 22.1% in the 4th quarter. Van ECK Associates Corp now owns 659,783 shares of the business services provider’s stock valued at $15,499,000 after acquiring an additional 119,470 shares during the period. 44.53% of the stock is owned by institutional investors.

Marathon Digital Stock Down 5.5 %

Shares of NASDAQ MARA opened at $20.08 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 23.07 and a quick ratio of 23.07. The company has a 50-day moving average price of $18.98 and a 200-day moving average price of $19.20. The stock has a market capitalization of $5.48 billion, a P/E ratio of 9.34 and a beta of 5.38. Marathon Digital has a 1 year low of $7.16 and a 1 year high of $34.09.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The company had revenue of $156.77 million for the quarter, compared to analyst estimates of $138.15 million. Marathon Digital had a net margin of 106.46% and a negative return on equity of 3.80%. On average, equities research analysts forecast 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.