Marathon Digital Holdings, Inc. (NASDAQ:MARA) Given Average Recommendation of “Hold” by Analysts

Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Free Report) has been assigned an average recommendation of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $19.47.

A number of brokerages have commented on MARA. Chardan Capital raised their price objective on Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. BTIG Research upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, January 17th. HC Wainwright restated a “buy” rating and set a $35.00 price objective on shares of Marathon Digital in a research report on Tuesday, March 19th. Finally, StockNews.com upgraded Marathon Digital from a “sell” rating to a “hold” rating in a report on Friday, March 8th.

View Our Latest Stock Report on MARA

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MARA. Bank of New York Mellon Corp raised its stake in shares of Marathon Digital by 1.0% in the 1st quarter. Bank of New York Mellon Corp now owns 474,377 shares of the business services provider’s stock valued at $13,259,000 after acquiring an additional 4,843 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Marathon Digital by 17.6% in the 1st quarter. HighTower Advisors LLC now owns 57,486 shares of the business services provider’s stock valued at $1,607,000 after acquiring an additional 8,588 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Marathon Digital by 6.1% in the 1st quarter. Private Advisor Group LLC now owns 17,709 shares of the business services provider’s stock valued at $495,000 after acquiring an additional 1,015 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Marathon Digital by 54.7% in the 1st quarter. MetLife Investment Management LLC now owns 52,851 shares of the business services provider’s stock valued at $1,477,000 after acquiring an additional 18,693 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Marathon Digital by 33.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,230 shares of the business services provider’s stock valued at $398,000 after acquiring an additional 3,601 shares in the last quarter. 44.53% of the stock is owned by institutional investors.

Marathon Digital Trading Down 1.5 %

NASDAQ:MARA opened at $19.43 on Thursday. 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 1-year low of $7.16 and a 1-year high of $34.09. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 23.13 and a beta of 5.36. The stock has a fifty day simple moving average of $22.24 and a 200 day simple moving average of $16.83.

Marathon Digital (NASDAQ:MARAGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). Marathon Digital had a net margin of 48.93% and a negative return on equity of 4.61%. The company had revenue of $156.77 million during the quarter, compared to analyst estimates of $138.15 million. Sell-side analysts forecast that Marathon Digital will post 0.07 earnings per share for the current year.

About Marathon Digital

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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.

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Analyst Recommendations for Marathon Digital (NASDAQ:MARA)

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