DA Davidson announced on Thursday that it is cutting its price objective for Marathon Digital (NASDAQ: MARA-Get Ratingprice) from $30.00 to $22.00 in a research note issued on Thursday. The Fly was the source for obtaining this information. Compared to the company’s current price, which is 74.60%, the fact that DA Davidson has established a target price suggests the potential for a gain. There have been several reports published recently on the stock by a variety of other equity analysts. In a research note published on Thursday, August 11, Jefferies Financial Group lowered their “buy” rating on shares of Marathon Digital and decreased their price objective on those shares from $25.00 to $24.00. This action was taken in conjunction with a downgrade of their price objective.
On Friday, June 3, Chardan Capital updated the research report they had created so that it now includes Marathon Digital. They suggested that you purchase the stock and establish an investment objective for the shares of $19.00 per share. Compass Point disclosed in a research note that was made public on August 15 that the company had increased its price objective on Marathon Digital shares to a level of thirty dollars ($30.00). In a research report released on Tuesday, August 23, 2018, Cowen raised their price objective on shares of Marathon Digital from $7.00 to $9.00 in a research report. Finally, BTIG Research rated Marathon Digital’s stock as a “buy” in a research note published on Friday, June 3.
However, the firm lowered its price objective for the company from $50.00 to $16.00 within the same period. Five market watchers are advising investors to purchase the stock, while there are only three analysts who believe investors should maintain their current holdings of the security. The price of one share of Marathon Digital was $12.60 when the market started on Thursday. MarketBeat.com reports that the current consensus recommendation for the company is “Moderate Buy,” and the website also reports that the average price objective for the firm is $17.13. The debt-to-equity ratio is calculated to be 1.11, the quick ratio is calculated to be 4.02, and the current ratio is likewise calculated to be 4.02, respectively. Throughout its existence, Marathon Digital saw a 52-week low of $5.20 and a 52-week high of $83.45 in its stock price. The share price is $15.10, which is higher than the stock’s 200-day moving average price of $12.51. The company carries a price-to-earnings ratio of -6.30 and a beta value of 5.34, with a market capitalization of $1.47 billion.
On Monday, August 8, the most recent earnings report for Marathon Digital (NASDAQ: MARIA-Get Rating) was made public. The company reported a loss of earnings per share for the quarter of $0.67, which was much less than the loss of $0.18 that market experts had predicted. The sales for the quarter came in at $24.92 million, which was a significant decrease from the $41.10 million that analysts had predicted the sales would be for the period. Marathon Digital had a return on equity of 6.10 percent, and the company had a net margin of 114.11 percent. The projections of market analysts suggest that during the current fiscal year, Marathon Digital will sustain a loss equivalent to $1.26 per share. In related news, Marathon Digital Director Kevin A. Denuccio bought 5,000 shares of the company’s stock on August 23. This comes as another piece of information regarding Marathon Digital. It was found that the price of the shares, which came to a total of $13.72 per share, was $68,600.00 overall for the transaction. The director now directly owns 105,000 shares of the company’s stock, which have a combined value of $1,440,600 as a direct consequence of the sale.
The transaction was disclosed to the public through a filing that was made with the SEC. The filing, in its entirety, can be acquired at this website. Company insiders own 5.86% of the total shares now outstanding in the corporation. Several major financial institutions recently changed the number of assets they owned in the company. This change was made in response to the recent stock price increase. Camden Capital LLC acquired an additional 6.5% of Marathon Digital Inc. stock during the fourth quarter, bringing the total proportion of the company’s shares it owned to 75%. Camden Capital LLC now directly owns 7,455 shares of the business services provider’s stock, which has a value of $245,000 after purchasing 455 additional shares during the most recent quarter. Tobam increased its ownership of Marathon Digital by 139.3 percent in the first three months of this year. Tobam has grown its interest in the business services provider by purchasing an additional 726 shares. This brings the total number of shares it owns to 1,247, which has a value of $35,000 for the company. CWM LLC increased the proportion of Marathon Digital shares it owned by 50.3% throughout the first quarter. CWM LLC is the new direct owner of 2,236 shares of stock in the business services provider. Each share is worth $62,000, so the total value of CWM LLC’s stock holdings is $62,000.
This is a direct consequence of the company’s purchase of 748 extra shares during the most recent fiscal quarter. During the second quarter, Handelsbanken Fonder AB achieved a 4.1% rise in the proportion of Marathon Digital shares it owned. Following the acquisition of an additional 800 shares during the most recent quarter, Handelsbanken Fonder AB now holds 20,300 shares of the business services provider’s stock. Based on the current market price, this gives the company a value of around $108,000. Last but not least, during the first quarter, Victory Capital Management Inc. boosted the percentage of Marathon Digital stock is owned by 7.9%. This certainly should not be considered the least important development. Following the acquisition of an additional 870 shares during the most recent fiscal quarter, Victory Capital Management Inc. now owns 11,840 shares of the business services provider’s stock, which equals $185,000. To the tune of 42.59% of the company’s stock, institutional investors and hedge funds collectively hold the company’s shares.
A digital asset technology company with its headquarters in the United States, Marathon Digital Holdings, Inc., has made cryptocurrency mining one of its key areas of concentration. The purpose behind establishing this business was to contribute to the expansion of blockchain ecosystems and digital assets. On December 31, 2021, it had a total of around 8,115 bitcoins, which included the 4,794 bitcoins that were held in the investment fund.