Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives $21.11 Consensus Target Price from Brokerages

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have earned an average rating of “Hold” from the eight analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $21.11.

A number of brokerages recently issued reports on MARA. Chardan Capital boosted their price objective on shares of Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, March 4th. JPMorgan Chase & Co. boosted their price objective on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. StockNews.com upgraded shares of Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Wednesday, January 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Marathon Digital in a report on Tuesday, March 19th.

Marathon Digital Stock Performance

MARA stock opened at $19.43 on Monday. The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20. Marathon Digital has a twelve month low of $7.16 and a twelve month high of $34.09. The business’s fifty day moving average is $20.96 and its 200-day moving average is $17.95. The company has a market cap of $5.20 billion, a P/E ratio of 23.13 and a beta of 5.36.

Marathon Digital (NASDAQ:MARA) last issued its 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 the consensus estimate of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. Equities research analysts forecast that Marathon Digital will post -0.04 EPS for the current year.

Institutional Trading of Marathon Digital

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Marathon Digital by 26.7% during the fourth quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock worth $551,395,000 after purchasing an additional 4,950,392 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 worth $42,840,000 after acquiring an additional 410,146 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Marathon Digital by 29.7% in 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 purchasing an additional 296,776 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Marathon Digital by 13.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 793,444 shares of the business services provider’s stock valued at $18,638,000 after purchasing an additional 95,946 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Marathon Digital by 22.1% during the fourth quarter. Van ECK Associates Corp now owns 659,783 shares of the business services provider’s stock valued at $15,499,000 after purchasing an additional 119,470 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

About Marathon Digital

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.