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

Marathon Digital (NASDAQ:MARA) had its price objective increased by B. Riley from $18.00 to $20.00 in a research report sent to investors on Friday, Benzinga reports. B. Riley currently has a neutral rating on the business services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright reissued a buy rating and set a $27.00 price objective on shares of Marathon Digital in a research report on Thursday, June 20th. Chardan Capital dropped their price target on shares of Marathon Digital from $30.00 to $21.00 and set a neutral rating on the stock in a research report on Wednesday, May 8th. StockNews.com cut shares of Marathon Digital from a hold rating to a sell rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. dropped their price target on shares of Marathon Digital from $16.50 to $14.00 and set an underweight rating on the stock in a research report on Tuesday, June 4th. Finally, Needham & Company LLC reiterated a hold rating on shares of Marathon Digital in a research note on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Marathon Digital currently has an average rating of Hold and an average price target of $19.61.

Marathon Digital Trading Up 18.3 %

Shares of NASDAQ:MARA opened at $24.58 on Friday. Marathon Digital has a 12-month low of $7.16 and a 12-month high of $34.09. The stock has a market cap of $6.95 billion, a PE ratio of 11.43 and a beta of 5.56. The business has a 50 day moving average of $20.12 and a 200-day moving average of $20.52. The company has a quick ratio of 23.07, a current ratio of 23.07 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data 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 firm had revenue of $165.20 million for the quarter, compared to analyst estimates of $193.89 million. Marathon Digital had a net margin of 106.46% and a negative return on equity of 3.80%. As a group, equities research analysts forecast that Marathon Digital will post -0.55 earnings per share for the current year.

Insider Activity at Marathon Digital

In related news, Director Said Ouissal sold 10,217 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $20.50, for a total transaction of $209,448.50. Following the sale, the director now owns 60,046 shares of the company’s stock, valued at $1,230,943. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Beaird Harris Wealth Management LLC raised its holdings in shares of Marathon Digital by 121.1% during 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 last quarter. Versant Capital Management Inc increased its stake in shares of Marathon Digital by 752.3% in the fourth quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock worth $39,000 after purchasing an additional 1,467 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Marathon Digital in the fourth quarter worth $61,000. GAMMA Investing LLC purchased a new stake in shares of Marathon Digital in the fourth quarter worth $75,000. Finally, FinTrust Capital Advisors LLC bought a new position in shares of Marathon Digital during the first quarter worth $90,000. 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.