why Marathon Digital Holdings Inc [MARA] is a Good Choice for Investors After New Price Target of $20.11

Marathon Digital Holdings Inc [NASDAQ: MARA] jumped around 0.06 points on Friday, while shares priced at $16.13 at the close of the session, up 0.37%. The company report on January 16, 2024 at 8:00 AM that Marathon Digital Holdings Announces the Closing of its Acquisition of Bitcoin Mining Sites.

“With the closing of this acquisition, we have officially made the transition to a more sophisticated organization with a diversified portfolio of Bitcoin mining assets,” said Fred Thiel, Marathon’s chairman and CEO. “Our mining portfolio now consists of approximately 910 megawatts of capacity, 45% of which resides on sites we directly own, and 55% of which is hosted by third parties. We look forward to integrating these assets into our portfolio, where we can leverage our cutting-edge technologies to improve efficiencies, and, over the next 18-24 months, scaling our operations to 50 exahashes of capacity.”.

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Compared to the average trading volume of 68.43M shares, MARA reached a trading volume of 109494107 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $20.11 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 2.33. 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.

BTIG Research have made an estimate for Marathon Digital Holdings Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 17, 2024.

The Average True Range (ATR) for Marathon Digital Holdings Inc is set at 2.85, with the Price to Sales ratio for MARA stock in the period of the last 12 months amounting to 13.86. The Price to Book ratio for the last quarter was 3.32, with the Price to Cash per share for the same quarter was set at 1.74.

How has MARA stock performed recently?

Marathon Digital Holdings Inc [MARA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -27.99. With this latest performance, MARA shares dropped by -18.86% in over the last four-week period, additionally sinking by -5.45% over the last 6 months – not to mention a rise of 133.43% 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 38.78, with the RSI for the last a single of trading hit 30.25, and the three-weeks RSI is set at 43.94 for Marathon Digital Holdings Inc [MARA]. The present Moving Average for the last 50 days of trading for this stock 17.16, while it was recorded at 17.24 for the last single week of trading, and 12.70 for the last 200 days.

Marathon Digital Holdings Inc [MARA]: Deeper insight into the fundamentals

Marathon Digital Holdings Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.33 and a Current Ratio set at 11.33.

Earnings analysis for Marathon Digital Holdings Inc [MARA]

With the latest financial reports released by the company, Marathon Digital Holdings Inc posted -0.53/share EPS, while the average EPS was predicted by analysts to be reported at -0.16/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -231.20%. 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%.

Insider trade positions for Marathon Digital Holdings Inc [MARA]

The top three institutional holders of MARA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MARA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MARA stock with ownership which is approximately 5.8325%.