Morgan Stanley Cuts Marathon Digital (NASDAQ:MARA) Price Target to $7.00

by · The Cerbat Gem

Marathon Digital (NASDAQ:MARA – Get Free Report) had its price target cut by investment analysts at Morgan Stanley from $8.50 to $7.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the business services provider’s stock. Morgan Stanley’s price target would indicate a potential downside of 40.57% from the stock’s current price.

A number of other research analysts have also commented on the company. Rosenblatt Securities upped their price target on Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Weiss Ratings downgraded shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Cantor Fitzgerald dropped their price objective on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Marathon Digital has an average rating of “Hold” and a consensus price target of $18.38.

View Our Latest Report on Marathon Digital

Marathon Digital Stock Performance

MARA stock traded down $0.40 during mid-day trading on Tuesday, reaching $11.78. 4,099,500 shares of the stock traded hands, compared to its average volume of 46,221,688. The firm has a market capitalization of $4.49 billion, a PE ratio of -2.07 and a beta of 5.41. The business has a 50-day moving average of $10.24 and a two-hundred day moving average of $10.59. Marathon Digital has a 52 week low of $6.66 and a 52 week high of $23.45. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99.

Marathon Digital (NASDAQ:MARA – Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($4.29). Marathon Digital had a negative return on equity of 23.20% and a negative net margin of 234.83%.The business had revenue of $202.31 million for the quarter, compared to analyst estimates of $250.74 million. During the same period in the prior year, the firm posted $1.24 EPS. Marathon Digital’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities analysts predict that Marathon Digital will post -1.67 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Zabi Nowaid sold 42,090 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $12.00, for a total transaction of $505,080.00. Following the completion of the transaction, the general counsel directly owned 1,007,047 shares of the company’s stock, valued at approximately $12,084,564. This trade represents a 4.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $11.68, for a total transaction of $321,258.40. Following the transaction, the chief executive officer directly owned 4,725,219 shares of the company’s stock, valued at $55,190,557.92. The trade was a 0.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 129,100 shares of company stock worth $1,412,594. 0.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marathon Digital

A number of institutional investors have recently added to or reduced their stakes in MARA. Vanguard Group Inc. grew its stake in shares of Marathon Digital by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock valued at $419,422,000 after purchasing an additional 1,394,559 shares during the period. State Street Corp lifted its position in shares of Marathon Digital by 1.4% during the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock worth $210,977,000 after buying an additional 191,380 shares during the period. UBS Group AG boosted its stake in Marathon Digital by 104.1% in the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock valued at $220,922,000 after buying an additional 6,172,110 shares in the last quarter. Marex Group plc boosted its stake in Marathon Digital by 2.6% in the 4th quarter. Marex Group plc now owns 10,137,713 shares of the business services provider’s stock valued at $91,037,000 after buying an additional 259,210 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Marathon Digital by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock valued at $89,434,000 after acquiring an additional 251,674 shares during the period. 44.53% of the stock is owned by institutional investors and hedge funds.

About Marathon Digital

(Get Free Report)

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.

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