Marathon Digital (NASDAQ:MARA) Coverage Initiated by Analysts at Guggenheim

Guggenheim initiated coverage on shares of Marathon Digital (NASDAQ:MARA) in a report released on Tuesday morning, MarketBeat reports. The firm issued a neutral rating on the business services provider’s stock.

Several other research firms have also commented on MARA. Rosenblatt Securities increased their price objective on shares of Marathon Digital from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. JPMorgan Chase & Co. decreased their price objective on shares of Marathon Digital from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, September 26th. Macquarie raised their price target on shares of Marathon Digital from $19.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Piper Sandler raised their price target on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Marathon Digital in a research note on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.90.

Marathon Digital Trading Down 3.2%

NASDAQ:MARA opened at $20.07 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 18.08 and a beta of 6.33. Marathon Digital has a 52 week low of $9.81 and a 52 week high of $30.28. The firm has a 50-day moving average price of $17.50 and a two-hundred day moving average price of $16.11.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, beating the consensus estimate of ($0.29) by $2.13. The firm had revenue of $238.50 million during the quarter, compared to analyst estimates of $212.25 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The company’s revenue for the quarter was up 64.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.72) EPS. On average, equities analysts expect that Marathon Digital will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Vicki Mealer-Burke sold 14,887 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $15.22, for a total value of $226,580.14. Following the completion of the transaction, the director directly owned 58,103 shares of the company’s stock, valued at approximately $884,327.66. This trade represents a 20.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $16.24, for a total transaction of $564,047.68. Following the completion of the transaction, the chief financial officer directly owned 318,428 shares of the company’s stock, valued at approximately $5,171,270.72. This trade represents a 9.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 204,598 shares of company stock valued at $3,616,374. Company insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its holdings in Marathon Digital by 307.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider’s stock valued at $729,000 after purchasing an additional 47,826 shares during the period. PFG Investments LLC boosted its holdings in Marathon Digital by 70.5% in the 1st quarter. PFG Investments LLC now owns 18,849 shares of the business services provider’s stock valued at $217,000 after purchasing an additional 7,795 shares during the period. Western Wealth Management LLC boosted its holdings in Marathon Digital by 24.7% in the 1st quarter. Western Wealth Management LLC now owns 23,029 shares of the business services provider’s stock valued at $265,000 after purchasing an additional 4,555 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Marathon Digital by 1,521.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider’s stock valued at $147,000 after purchasing an additional 12,032 shares during the period. Finally, KBC Group NV boosted its holdings in Marathon Digital by 19.3% in the 1st quarter. KBC Group NV now owns 13,725 shares of the business services provider’s stock valued at $158,000 after purchasing an additional 2,220 shares during the period. 44.53% of the stock is owned by institutional investors.

About Marathon Digital

MARA 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 Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.