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

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has received a consensus rating of “Hold” from the eight brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $21.11.

MARA has been the subject of a number of analyst reports. Chardan Capital upped 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. StockNews.com upgraded shares of Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of Marathon Digital in a research report on Tuesday, March 19th. JPMorgan Chase & Co. raised their price objective on shares of Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a research report on Wednesday, April 10th. Finally, BTIG Research upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, January 17th.

Marathon Digital Stock Down 1.8 %

Shares of Marathon Digital stock opened at $19.09 on Monday. 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 twelve month low of $7.16 and a twelve month high of $34.09. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 22.73 and a beta of 5.36. The company’s 50 day moving average is $21.27 and its 200 day moving average is $17.73.

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

Hedge Funds Weigh In On Marathon Digital

Several hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its position in Marathon Digital by 752.3% in the 4th quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 1,467 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Marathon Digital in the fourth quarter worth about $61,000. GAMMA Investing LLC bought a new stake in Marathon Digital during the fourth quarter valued at about $75,000. IFP Advisors Inc boosted its position in Marathon Digital by 48.2% during the third quarter. IFP Advisors Inc now owns 9,272 shares of the business services provider’s stock valued at $79,000 after purchasing an additional 3,017 shares in the last quarter. Finally, Xponance Inc. bought a new position in Marathon Digital in the third quarter worth about $86,000. 44.53% of the stock is currently owned by institutional investors.

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.