In yesterday’s Wall Street session, Marathon Digital Holdings Inc. (NASDAQ:MARA) shares traded at $9.38, down -7.04% from the previous session.
6 analysts cover Marathon Digital Holdings Inc. (NASDAQ:MARA), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $20.00 and a low of $8.00, we find $13.50. Given the previous closing price of $10.09, this indicates a potential upside of 33.8 percent. MARA stock price is now 5.93% away from the 50-day moving average and 2.84% away from the 200-day moving average. The market capitalization of the company currently stands at $1.54B.
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The stock has received a hold rating from 3 analysts and a buy rating from 3. Brokers who have rated the stock have averaged $12.90 as their price target over the next twelve months.
With the price target reduced from $12.50 to $4, Jefferies Downgraded its rating from Buy to Hold for Marathon Digital Holdings Inc. (NASDAQ: MARA)., while ‘Cowen’ rates the stock as ‘Market Perform’.
In other news, MELLINGER DOUGLAS K, Director bought 10,000 shares of the company’s stock on Dec 28. The stock was bought for $32,700 at an average price of $3.27. Upon completion of the transaction, the Director now directly owns 28,771 shares in the company, valued at $0.27 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 19, Director MELLINGER DOUGLAS K bought 10,000 shares of the business’s stock. A total of $38,400 was incurred on buying the stock at an average price of $3.84. This leaves the insider owning 18,771 shares of the company worth $0.18 million. Insiders disposed of 37,500 shares of company stock worth roughly $0.35 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MARA stock. A new stake in Marathon Digital Holdings Inc. shares was purchased by GROUP ONE TRADING, L.P. during the first quarter worth $2,540,000. IMC-CHICAGO, LLC invested $1,739,000 in shares of MARA during the first quarter. In the first quarter, BAYESIAN CAPITAL MANAGEMENT, LP acquired a new stake in Marathon Digital Holdings Inc. valued at approximately $1,391,000. SASSICAIA CAPITAL ADVISERS LLC acquired a new stake in MARA for approximately $1,005,000. MYDA ADVISORS LLC purchased a new stake in MARA valued at around $901,000 in the second quarter. In total, there are 304 active investors with 37.50% ownership of the company’s stock.
During the past 12 months, Marathon Digital Holdings Inc. has had a low of $3.11 and a high of $18.88. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 16.20, and a quick ratio of 16.20. The fifty day moving average price for MARA is $8.92 and a two-hundred day moving average price translates $9.10 for the stock.
The latest earnings results from Marathon Digital Holdings Inc. (NASDAQ: MARA) was released for Mar, 2023. According to the Capital Markets Company, earnings per share came in at -$0.05, beating analysts’ expectations of -$0.08 by 0.03. This compares to -$0.12 EPS in the same period last year. The company reported revenue of $51.13 million for the quarter, compared to $51.72 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1.14 percent. For the current quarter, analysts expect MARA to generate $105.18M in revenue.
Marathon Digital Holdings Inc.(MARA) Company Profile
Marathon Digital Holdings, Inc. operates as a digital asset technology company that mines digital assets with a focus on the blockchain ecosystem and the generation of digital assets 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.
