Marathon Digital (NASDAQ:MARA) Downgraded by BTIG Research

Marathon Digital (NASDAQ:MARAGet Rating) was downgraded by analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research note issued on Friday, Briefing.com reports.

Several other research analysts have also commented on MARA. DA Davidson cut their price objective on Marathon Digital from $30.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, September 15th. B. Riley dropped their target price on Marathon Digital from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 12th. Cowen lifted their target price on Marathon Digital from $7.00 to $9.00 in a research report on Tuesday, August 23rd. Chardan Capital initiated coverage on Marathon Digital in a research report on Friday, June 3rd. They set a “buy” rating and a $19.00 target price on the stock. Finally, Cowen lifted their target price on Marathon Digital from $7.00 to $9.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 23rd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Marathon Digital currently has an average rating of “Moderate Buy” and a consensus target price of $17.13.

Marathon Digital Trading Down 3.0 %

NASDAQ:MARA opened at $10.52 on Friday. The business’s 50-day moving average is $12.88 and its two-hundred day moving average is $14.53. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.02 and a quick ratio of 4.02. Marathon Digital has a 12 month low of $5.20 and a 12 month high of $83.45. The firm has a market capitalization of $1.23 billion, a PE ratio of -5.26 and a beta of 5.34.

Marathon Digital (NASDAQ:MARAGet Rating) last released its quarterly earnings data on Monday, August 8th. The business services provider reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.49). Marathon Digital had a negative net margin of 114.11% and a positive return on equity of 6.10%. The company had revenue of $24.92 million during the quarter, compared to analysts’ expectations of $41.10 million. Research analysts predict that Marathon Digital will post -1.26 earnings per share for the current fiscal year.

Insider Activity at Marathon Digital

In other news, Director Kevin A. Denuccio acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The stock was purchased at an average cost of $13.72 per share, with a total value of $68,600.00. Following the completion of the acquisition, the director now directly owns 105,000 shares in the company, valued at $1,440,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marathon Digital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Swiss National Bank boosted its stake in Marathon Digital by 10.7% in the first quarter. Swiss National Bank now owns 242,700 shares of the business services provider’s stock valued at $6,783,000 after acquiring an additional 23,400 shares during the period. New York State Common Retirement Fund boosted its position in shares of Marathon Digital by 1.8% during the first quarter. New York State Common Retirement Fund now owns 73,927 shares of the business services provider’s stock worth $2,066,000 after buying an additional 1,309 shares during the period. Victory Capital Management Inc. boosted its position in shares of Marathon Digital by 7.9% during the first quarter. Victory Capital Management Inc. now owns 11,840 shares of the business services provider’s stock worth $185,000 after buying an additional 870 shares during the period. Toroso Investments LLC boosted its position in shares of Marathon Digital by 27.3% during the first quarter. Toroso Investments LLC now owns 1,222,748 shares of the business services provider’s stock worth $34,176,000 after buying an additional 262,170 shares during the period. Finally, Sfmg LLC acquired a new position in shares of Marathon Digital during the first quarter worth approximately $405,000. 42.59% of the stock is currently owned by institutional investors and hedge funds.

Marathon Digital Company Profile

(Get Rating)

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States. As of December 31, 2021, it had approximately 8,115 bitcoins, which included the 4,794 bitcoins held in the investment fund.

Featured Articles

Analyst Recommendations for Marathon Digital (NASDAQ:MARA)

Receive News & Ratings for Marathon Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Digital and related companies with MarketBeat.com's FREE daily email newsletter.