Marathon Digital Holdings, Inc. (NASDAQ:MARA) Given Average Rating of “Hold” by Brokerages

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Rating) have earned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $12.50.

Several equities research analysts have issued reports on the stock. DA Davidson lowered their price objective on shares of Marathon Digital from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, January 12th. Jefferies Financial Group lowered Marathon Digital from a “buy” rating to a “hold” rating and lowered their price target for the company from $12.50 to $4.00 in a report on Monday, January 9th. Finally, B. Riley lowered their price target on Marathon Digital from $8.00 to $6.00 in a report on Tuesday, March 14th.

Marathon Digital Trading Up 7.1 %

Shares of MARA opened at $8.17 on Friday. The company has a market cap of $954.34 million, a P/E ratio of -3.36 and a beta of 5.05. Marathon Digital has a twelve month low of $3.11 and a twelve month high of $32.74. The company’s fifty day simple moving average is $7.06 and its 200-day simple moving average is $8.21. The company has a current ratio of 5.27, a quick ratio of 5.27 and a debt-to-equity ratio of 1.25.

Insider Buying and Selling

In other Marathon Digital news, Director Douglas K. Mellinger acquired 10,000 shares of Marathon Digital stock in a transaction that occurred on Wednesday, December 28th. The stock was bought at an average price of $3.27 per share, with a total value of $32,700.00. Following the completion of the purchase, the director now directly owns 28,771 shares of the company’s stock, valued at approximately $94,081.17. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marathon Digital

Large investors have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new position in shares of Marathon Digital during the first quarter worth $37,000. Captrust Financial Advisors increased its position in shares of Marathon Digital by 83.9% during the first quarter. Captrust Financial Advisors now owns 2,750 shares of the business services provider’s stock worth $77,000 after purchasing an additional 1,255 shares in the last quarter. CI Investments Inc. acquired a new position in shares of Marathon Digital during the second quarter worth $25,000. Macquarie Group Ltd. increased its position in shares of Marathon Digital by 96.8% during the second quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider’s stock worth $29,000 after purchasing an additional 2,641 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Marathon Digital during the first quarter worth $163,000. Institutional investors own 39.88% of the company’s stock.

About Marathon Digital

(Get Rating)

Marathon Digital Holdings, Inc is a digital asset technology company, which engages in mining cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets. The company was founded on February 23, 2010 and is headquartered in Las Vegas, NV.