Marathon Digital (NASDAQ:MARA) Rating Reiterated by HC Wainwright

Marathon Digital (NASDAQ:MARA)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They presently have a $27.00 price objective on the business services provider’s stock. HC Wainwright’s target price would indicate a potential upside of 33.14% from the company’s previous close.

A number of other brokerages also recently commented on MARA. B. Riley reduced their price objective on shares of Marathon Digital from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. StockNews.com cut Marathon Digital from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of Marathon Digital in a report on Friday, May 10th. JPMorgan Chase & Co. dropped their target price on Marathon Digital from $16.50 to $14.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 4th. Finally, Chardan Capital decreased their price target on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Marathon Digital has a consensus rating of “Hold” and an average target price of $19.33.

Marathon Digital Stock Performance

Marathon Digital stock opened at $20.28 on Thursday. The company has a market cap of $5.73 billion, a PE ratio of 9.43 and a beta of 5.46. The company has a quick ratio of 23.07, a current ratio of 23.07 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $19.00 and its 200-day moving average price is $20.54. Marathon Digital has a twelve month low of $7.16 and a twelve month high of $34.09.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Thursday, May 9th. The business services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.08). The business had revenue of $165.20 million for the quarter, compared to the consensus estimate of $193.89 million. Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. On average, equities research analysts forecast that Marathon Digital will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Marathon Digital news, Director Said Ouissal sold 10,217 shares of Marathon Digital stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $20.50, for a total value of $209,448.50. Following the completion of the transaction, the director now owns 60,046 shares of the company’s stock, valued at $1,230,943. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marathon Digital

Several institutional investors and hedge funds have recently modified their holdings of MARA. Global Retirement Partners LLC increased its position in shares of Marathon Digital by 7.7% in the first quarter. Global Retirement Partners LLC now owns 9,152 shares of the business services provider’s stock valued at $207,000 after buying an additional 658 shares in the last quarter. Beaird Harris Wealth Management LLC increased its holdings in Marathon Digital by 121.1% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after acquiring an additional 695 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in Marathon Digital by 4.1% in the 1st quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock worth $505,000 after acquiring an additional 881 shares in the last quarter. Intrepid Financial Planning Group LLC raised its position in Marathon Digital by 4.1% during the fourth quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider’s stock worth $555,000 after acquiring an additional 930 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in Marathon Digital by 2.1% during the first quarter. Commonwealth Equity Services LLC now owns 70,974 shares of the business services provider’s stock valued at $1,603,000 after purchasing an additional 1,430 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

About Marathon Digital

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.