HC Wainwright reissued their buy rating on shares of Marathon Digital (NASDAQ:MARA – Free Report) in a report issued on Wednesday morning, Benzinga reports. HC Wainwright currently has a $20.00 price objective on the business services provider’s stock. HC Wainwright also issued estimates for Marathon Digital’s Q3 2023 earnings at ($0.07) EPS, Q4 2023 earnings at ($0.04) EPS, FY2023 earnings at ($0.27) EPS and FY2024 earnings at ($0.87) EPS.
Several other brokerages have also commented on MARA. Compass Point dropped their price objective on Marathon Digital from $21.00 to $20.00 and set a buy rating on the stock in a report on Wednesday. B. Riley upped their price objective on shares of Marathon Digital from $8.00 to $11.00 and gave the company a neutral rating in a research note on Thursday. Finally, Chardan Capital cut shares of Marathon Digital from a buy rating to a neutral rating and set a $15.00 price target on the stock. in a research report on Monday, August 7th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $12.50.
Get Our Latest Research Report on MARA
Marathon Digital Trading Up 2.3 %
Marathon Digital (NASDAQ:MARA – Get Free Report) last announced its quarterly earnings results on Wednesday, May 10th. The business services provider reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. Marathon Digital had a negative return on equity of 15.80% and a negative net margin of 284.21%. The company had revenue of $51.13 million during the quarter, compared to the consensus estimate of $45.95 million. On average, research analysts anticipate that Marathon Digital will post -0.05 EPS for the current fiscal year.
Institutional Investors Weigh In On Marathon Digital
Several institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC grew its stake in Marathon Digital by 297.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,636,538 shares of the business services provider’s stock worth $8,739,000 after purchasing an additional 1,224,300 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of Marathon Digital during the fourth quarter worth about $4,033,000. Geode Capital Management LLC increased its position in Marathon Digital by 41.1% during the second quarter. Geode Capital Management LLC now owns 3,705,238 shares of the business services provider’s stock worth $51,360,000 after buying an additional 1,080,124 shares during the period. Vanguard Group Inc. raised its position in Marathon Digital by 10.1% in the 3rd quarter. Vanguard Group Inc. now owns 10,668,015 shares of the business services provider’s stock valued at $114,255,000 after purchasing an additional 978,569 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Marathon Digital by 42.9% in the fourth quarter. Morgan Stanley now owns 3,181,334 shares of the business services provider’s stock valued at $10,880,000 after buying an additional 954,370 shares during the last quarter. Hedge funds and other institutional investors own 31.51% of the company’s stock.
Marathon Digital Company Profile
Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the blockchain ecosystem and the generation of digital assets 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.
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