HC Wainwright Reaffirms “Buy” Rating for Marathon Digital (NASDAQ:MARA)

HC Wainwright reiterated their buy rating on shares of Marathon Digital (NASDAQ:MARAFree Report) in a research report report published on Thursday, Benzinga reports. The brokerage currently has a $27.00 price objective on the business services provider’s stock.

Other research analysts have also issued reports about the company. Needham & Company LLC reaffirmed a hold rating on shares of Marathon Digital in a research report on Friday, May 10th. B. Riley lowered their price objective on Marathon Digital from $19.00 to $18.00 and set a neutral rating on the stock in a report on Friday, May 10th. Chardan Capital lowered their price objective on Marathon Digital from $30.00 to $21.00 and set a neutral rating on the stock in a report on Wednesday, May 8th. JPMorgan Chase & Co. decreased their target price on Marathon Digital from $16.50 to $14.00 and set an underweight rating for the company in a research note on Tuesday, June 4th. Finally, StockNews.com downgraded Marathon Digital from a hold rating to a sell rating in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $19.33.

Read Our Latest Stock Analysis on MARA

Marathon Digital Trading Down 7.0 %

Shares of NASDAQ MARA opened at $19.21 on Thursday. Marathon Digital has a 12 month low of $7.16 and a 12 month high of $34.09. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 8.93 and a beta of 5.46. 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 business has a fifty day simple moving average of $19.13 and a 200-day simple moving average of $20.61.

Marathon Digital (NASDAQ:MARAGet Free Report) last announced its earnings results on Thursday, May 9th. The business services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.08). The company had revenue of $165.20 million for the quarter, compared to analysts’ expectations of $193.89 million. Marathon Digital had a net margin of 106.46% and a negative return on equity of 3.80%. Sell-side analysts predict that Marathon Digital will post -0.55 EPS for the current year.

Insiders Place Their Bets

In other news, Director Said Ouissal sold 10,217 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $20.50, for a total value of $209,448.50. Following the completion of the transaction, the director now directly owns 60,046 shares of the company’s stock, valued at approximately $1,230,943. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of MARA. Beaird Harris Wealth Management LLC boosted its position in shares of Marathon Digital by 121.1% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after purchasing an additional 695 shares during the last quarter. Versant Capital Management Inc increased its position in Marathon Digital by 752.3% during the fourth quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock worth $39,000 after buying an additional 1,467 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Marathon Digital during the fourth quarter worth approximately $61,000. GAMMA Investing LLC bought a new stake in shares of Marathon Digital in the fourth quarter valued at approximately $75,000. Finally, FinTrust Capital Advisors LLC bought a new stake in shares of Marathon Digital in the first quarter valued at approximately $90,000. 44.53% of the stock is owned by institutional investors and hedge funds.

Marathon Digital Company Profile

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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.

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