Piper Sandler Cuts Marathon Digital (NASDAQ:MARA) Price Target to $13.00

Marathon Digital (NASDAQ:MARA) had its price objective cut by Piper Sandler from $16.00 to $13.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Several other equities research analysts have also issued reports on MARA. Cantor Fitzgerald reduced their target price on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Citizens Jmp began coverage on shares of Marathon Digital in a report on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 price target on the stock. Morgan Stanley reduced their price objective on shares of Marathon Digital from $7.00 to $5.50 and set an “underweight” rating for the company in a research note on Wednesday, July 8th. Rosenblatt Securities raised their price objective on shares of Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, BTIG Research reaffirmed a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a report on Monday, June 1st. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

Marathon Digital Price Performance

NASDAQ MARA opened at $10.69 on Friday. Marathon Digital has a 52 week low of $6.66 and a 52 week high of $23.45. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $4.08 billion, a P/E ratio of -1.87 and a beta of 5.36. The stock’s 50-day moving average price is $13.37 and its 200-day moving average price is $10.90.

Insider Transactions at Marathon Digital

In other news, General Counsel Zabi Nowaid sold 8,250 shares of Marathon Digital stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $12.00, for a total value of $99,000.00. Following the sale, the general counsel directly owned 970,768 shares of the company’s stock, valued at approximately $11,649,216. The trade was a 0.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $16.00, for a total value of $112,000.00. Following the completion of the sale, the director owned 231,618 shares in the company, valued at $3,705,888. This represents a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, 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 Trading of Marathon Digital

A number of large investors have recently added to or reduced their stakes in the company. Ascentis Independent Advisors bought a new position in shares of Marathon Digital during the 1st quarter valued at approximately $28,000. Bogart Wealth LLC increased its position in Marathon Digital by 4,345.1% in the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock worth $33,000 after purchasing an additional 3,954 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Marathon Digital in the fourth quarter worth $36,000. Hantz Financial Services Inc. raised its stake in Marathon Digital by 344.8% during the fourth quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 3,893 shares in the last quarter. Finally, CoreCap Advisors LLC raised its stake in Marathon Digital by 128.0% during the second quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 2,050 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

Key Headlines Impacting Marathon Digital

Here are the key news stories impacting Marathon Digital this week:

• Neutral Sentiment: MARA remains one of the more heavily watched crypto-mining stocks, which can keep trading activity elevated even when there is no major company-specific announcement. Marathon Digital Holdings, Inc. (MARA) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Piper Sandler cut its price target on Marathon Digital to $13 from $16, though it kept an overweight rating, signaling continued long-term confidence despite a lower near-term valuation estimate. Benzinga report on Piper Sandler price target cut
• Negative Sentiment: MARA fell more than the broader market in the latest session, extending its recent weakness and suggesting investors are still cautious around the stock’s volatility and outlook. Here’s Why Marathon Digital Holdings, Inc. (MARA) Fell More Than Broader Market
• Negative Sentiment: The stock declined again in the most recent trading session, reinforcing a short-term downtrend as investors appear to be taking profits or trimming exposure. Marathon Digital Holdings, Inc. (MARA) Declines More Than Market: Some Information for Investors

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.