Marathon Digital (NASDAQ:MARA) Price Target Increased to $20.00 by Analysts at B. Riley

Marathon Digital (NASDAQ:MARA) had its price target boosted by B. Riley from $18.00 to $20.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. B. Riley’s target price suggests a potential upside of 2.77% from the stock’s current price.

Several other research firms have also recently issued reports on MARA. StockNews.com cut Marathon Digital from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of Marathon Digital in a report on Friday, May 10th. HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a report on Thursday, June 20th. JPMorgan Chase & Co. reduced their target price on Marathon Digital from $16.50 to $14.00 and set an “underweight” rating on the stock in a report on Tuesday, June 4th. Finally, Chardan Capital reduced their target price on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.61.

Marathon Digital Trading Up 2.3 %

Shares of MARA stock traded up $0.44 during mid-day trading on Friday, hitting $19.46. 2,772,435 shares of the company’s stock were exchanged, compared to its average volume of 61,943,918. Marathon Digital has a fifty-two week low of $7.16 and a fifty-two week high of $34.09. The stock has a 50-day simple moving average of $19.97 and a two-hundred day simple moving average of $20.71. 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 stock has a market cap of $5.50 billion, a price-to-earnings ratio of 9.05 and a beta of 5.56.

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

Insider Transactions at Marathon Digital

In other news, Director Said Ouissal sold 10,217 shares of Marathon Digital stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $20.50, for a total transaction of $209,448.50. Following the sale, the director now directly owns 60,046 shares of the company’s stock, valued at $1,230,943. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.11% of the company’s stock.

Institutional Trading of Marathon Digital

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Valeo Financial Advisors LLC bought a new stake in Marathon Digital in the second quarter valued at about $496,000. Kingswood Wealth Advisors LLC increased its holdings in Marathon Digital by 2.9% in the second quarter. Kingswood Wealth Advisors LLC now owns 66,561 shares of the business services provider’s stock valued at $1,321,000 after buying an additional 1,845 shares during the last quarter. GAMMA Investing LLC increased its holdings in Marathon Digital by 108.0% in the second quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock valued at $136,000 after buying an additional 3,565 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Marathon Digital by 143.0% in the first quarter. EverSource Wealth Advisors LLC now owns 157,449 shares of the business services provider’s stock valued at $3,555,000 after buying an additional 92,649 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in Marathon Digital in the first quarter valued at about $105,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.