Market Analysts see Marathon Digital Holdings Inc. [MARA] gaining to $7. Time to buy?

Marathon Digital Holdings Inc. [NASDAQ: MARA] gained 6.11% or 1.05 points to close at $18.24 with a heavy trading volume of 17542361 shares. The company report on August 8, 2022 that Marathon Digital Holdings Reports Second Quarter 2022 Results Along with Bitcoin Production and Mining Operation Updates for July 2022.

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Marathon Digital Holdings, Inc. (NASDAQ:MARA) (“Marathon” or “Company”), a leader in supporting and securing the Bitcoin ecosystem, reported its financial and operational results for the quarter ended June 30, 2022.

Management Commentary“In the second quarter of 2022, we increased our bitcoin production 8% year-over-year, producing 707 bitcoin, and we continued to install miners in Texas in anticipation of energization as we worked through both operational obstacles and a challenging macro environment,” said Fred Thiel Marathon’s chairman and CEO. “Energization delays, maintenance and weather issues in Montana, and an approximately 56% decline in the price of bitcoin during the quarter, severely impacted our bitcoin production and financial results. These items reduced our revenues, caused us to record a $127.6 million impairment on our bitcoin holdings, and decreased the fair market value of our investment fund by $79.7 million. However, given the groundwork we laid during the quarter and the progress we have made since, we are optimistic that Marathon’s operational and financial positioning is improving.

It opened the trading session at $17.25, the shares rose to $18.30 and dropped to $16.39, the range by which the price of stock traded the whole day. The daily chart for MARA points out that the company has recorded -36.71% loss over the past six months. However, it is still -250.77% lower than its most recent low trading price.

If we look at the average trading volume of 18.64M shares, MARA reached to a volume of 17542361 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Marathon Digital Holdings Inc. [MARA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MARA shares is $19.92 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MARA stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for Marathon Digital Holdings Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on June 24, 2022. While these analysts kept the previous recommendation, B. Riley Securities raised their target price from $34 to $9. The new note on the price target was released on June 23, 2022, representing the official price target for Marathon Digital Holdings Inc. stock. Previously, the target price had yet another raise to $19, while Chardan Capital Markets analysts kept a Buy rating on MARA stock.

The Average True Range (ATR) for Marathon Digital Holdings Inc. is set at 1.73, with the Price to Sales ratio for MARA stock in the period of the last 12 months amounting to 10.65. The Price to Book ratio for the last quarter was 3.02, with the Price to Cash per share for the same quarter was set at 2.03.

Trading performance analysis for MARA stock

Marathon Digital Holdings Inc. [MARA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 28.72. With this latest performance, MARA shares gained by 128.00% in over the last four-week period, additionally sinking by -36.71% over the last 6 months – not to mention a drop of -46.10% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MARA stock in for the last two-week period is set at 75.83, with the RSI for the last a single of trading hit 81.75, and the three-weeks RSI is set at 70.25 for Marathon Digital Holdings Inc. [MARA]. The present Moving Average for the last 50 days of trading for this stock 9.71, while it was recorded at 16.07 for the last single week of trading, and 25.18 for the last 200 days.

Marathon Digital Holdings Inc. [MARA]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Marathon Digital Holdings Inc. [MARA] shares currently have an operating margin of -36.91 and a Gross Margin at -31.58. Marathon Digital Holdings Inc.’s Net Margin is presently recorded at -24.04.

Return on Equity for this stock declined to -7.27, with Return on Assets sitting at -4.11.

Marathon Digital Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.00 and a Current Ratio set at 4.00.

Marathon Digital Holdings Inc. [MARA]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MARA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Marathon Digital Holdings Inc. go to 50.00%.

An analysis of insider ownership at Marathon Digital Holdings Inc. [MARA]

There are presently around $803 million, or 36.40% of MARA stock, in the hands of institutional investors. The top three institutional holders of MARA stocks are: VANGUARD GROUP INC with ownership of 9,689,446, which is approximately 4.627% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 7,346,056 shares of the stock with an approximate value of $133.99 million in MARA stocks shares; and STATE STREET CORP, currently with $40.45 million in MARA stock with ownership of nearly 6.819% of the company’s market capitalization.

Positions in Marathon Digital Holdings Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 115 institutional holders increased their position in Marathon Digital Holdings Inc. [NASDAQ:MARA] by around 8,651,106 shares. Additionally, 104 investors decreased positions by around 6,052,091 shares, while 47 investors held positions by with 29,295,968 shares. The mentioned changes placed institutional holdings at 43,999,165 shares, according to the latest SEC report filing. MARA stock had 46 new institutional investments in for a total of 1,933,889 shares, while 42 institutional investors sold positions of 611,278 shares during the same period.


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