Brokerages Set Marathon Digital Holdings, Inc. (NASDAQ:MARA) Target Price at $21.11

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have earned a consensus rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $21.11.

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

Marathon Digital Trading Down 1.8 %

Shares of MARA opened at $19.09 on Monday. Marathon Digital has a twelve month low of $7.16 and a twelve month high of $34.09. The company has a current ratio of 30.50, a quick ratio of 30.51 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $5.11 billion, a P/E ratio of 22.73 and a beta of 5.36. The firm’s 50-day moving average is $21.27 and its two-hundred day moving average is $17.73.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.07). The firm had revenue of $156.77 million during the quarter, compared to analysts’ expectations of $138.15 million. Marathon Digital had a net margin of 48.93% and a negative return on equity of 4.61%. On average, research analysts predict that Marathon Digital will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

Large investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. grew its stake in Marathon Digital by 307.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 8,140 shares of the business services provider’s stock worth $184,000 after buying an additional 6,140 shares during the period. Spire Wealth Management increased its holdings in Marathon Digital by 77.6% in the 1st quarter. Spire Wealth Management now owns 22,863 shares of the business services provider’s stock valued at $516,000 after purchasing an additional 9,989 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Marathon Digital by 7.7% during the first quarter. Global Retirement Partners LLC now owns 9,152 shares of the business services provider’s stock worth $207,000 after purchasing an additional 658 shares in the last quarter. Wealthstar Advisors LLC purchased a new stake in shares of Marathon Digital in the first quarter worth about $248,000. Finally, United Capital Management of KS Inc. grew its stake in shares of Marathon Digital by 49.9% in the first quarter. United Capital Management of KS Inc. now owns 19,088 shares of the business services provider’s stock valued at $431,000 after buying an additional 6,350 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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.