Does Marathon Digital Holdings Inc (NASDAQ:MARA) have deteriorating prospects?

Marathon Digital Holdings Inc (NASDAQ:MARA) shares traded -4.47% lower at $9.18 on Wall Street last session.

In accordance with the data, 10 analysts cover Marathon Digital Holdings Inc (NASDAQ:MARA). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $20.00 and a low of $7.00, we find $11.00. Given the previous closing price of $9.61, this indicates a potential upside of 14.46 percent. MARA stock price is now 1.11% away from the 50-day moving average and -10.29% away from the 200-day moving average. The market capitalization of the company currently stands at $2.04B.

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It has been rated a hold by 6 analysts and a buy by 3. Brokers who have rated the stock have averaged $11.26 as their price target over the next twelve months.

With the price target of $8.30, Bernstein recently initiated with Mkt Perform rating for Marathon Digital Holdings Inc (NASDAQ: MARA).

In other news, SWAMI ASHU, Director sold 11,000 shares of the company’s stock on Aug 31. The stock was sold for $151,833 at an average price of $13.80. Upon completion of the transaction, the Director now directly owns 7,491 shares in the company, valued at $68767.38. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 23, Director Ouissal Said sold 5,000 shares of the business’s stock. A total of $59,000 was realized by selling the stock at an average price of $11.80. This leaves the insider owning 10,217 shares of the company worth $93792.06. Insiders disposed of 31,000 shares of company stock worth roughly $0.28 million over the past 1 year. A total of 3.40% of the company’s stock is owned by insiders.

Marathon Digital Holdings Inc (NASDAQ: MARA) opened at $9.42 on Monday. During the past 12 months, Marathon Digital Holdings Inc has had a low of $3.11 and a high of $19.88. As of last week, the company has a debt-to-equity ratio of 0.32, a current ratio of 11.33, and a quick ratio of 11.33. The fifty day moving average price for MARA is $9.08 and a two-hundred day moving average price translates $10.23 for the stock.

The latest earnings results from Marathon Digital Holdings Inc (NASDAQ: MARA) was released for Sep, 2023. The net profit margin was -137.78% and return on equity was -43.15% for MARA. The company reported revenue of $97.85 million for the quarter, compared to $12.69 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 671.07 percent.

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.

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