Marathon Digital (NASDAQ:MARA) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Marathon Digital (NASDAQ:MARA) in a research note published on Thursday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $21.00 price objective on the business services provider’s stock.

MARA has been the subject of a number of other reports. HC Wainwright restated a buy rating and issued a $27.00 price objective on shares of Marathon Digital in a research report on Thursday, June 20th. B. Riley boosted their target price on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a neutral rating in a research note on Friday, July 12th. JPMorgan Chase & Co. reduced their target price on Marathon Digital from $14.00 to $12.00 and set an underweight rating for the company in a report on Friday, August 23rd. Finally, Macquarie started coverage on Marathon Digital in a research note on Tuesday, September 24th. They issued an outperform rating and a $22.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Digital currently has a consensus rating of Hold and a consensus price target of $19.79.

Marathon Digital Stock Performance

MARA opened at $16.08 on Thursday. The stock has a market cap of $4.55 billion, a P/E ratio of 7.48 and a beta of 5.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75. The firm has a fifty day moving average price of $16.11 and a 200 day moving average price of $18.48. Marathon Digital has a 1 year low of $7.55 and a 1 year high of $34.09.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The firm had revenue of $145.14 million for the quarter, compared to analysts’ expectations of $157.86 million. During the same period in the previous year, the company earned ($0.13) earnings per share. The company’s revenue was up 77.5% compared to the same quarter last year. Equities research analysts anticipate that Marathon Digital will post -1.06 earnings per share for the current year.

Insiders Place Their Bets

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the transaction, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at approximately $33,022,547.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the transaction, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at approximately $33,022,547.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the transaction, the chief executive officer now directly owns 4,278,309 shares in the company, valued at $67,169,451.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,212 shares of company stock valued at $726,178. Insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Beaird Harris Wealth Management LLC raised its position in Marathon Digital by 121.1% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 695 shares during the period. FinTrust Capital Advisors LLC purchased a new stake in Marathon Digital in the first quarter valued at $90,000. DekaBank Deutsche Girozentrale purchased a new stake in Marathon Digital in the first quarter valued at $105,000. GAMMA Investing LLC raised its position 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 purchasing an additional 3,565 shares during the period. Finally, Tobam raised its position in Marathon Digital by 173.0% in the third quarter. Tobam now owns 7,701 shares of the business services provider’s stock valued at $125,000 after purchasing an additional 4,880 shares during the period. 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.