Marathon Digital Holdings Inc. (NASDAQ:MARA) does about 23.53M shares in volume on a normal day but saw 46692182 shares change hands in Monday trading. The company now has a market cap of 956.43M USD. Its current market price is $9.00, marking an increase of 11.52% compared to the previous close of $8.07. The 52 week high reached by this stock is $32.74 whilst the lowest price level in 52 weeks is $3.11. The script in recent trading has seen the stock touch a high of $9.12 and a low of $7.81.
Marathon Digital Holdings Inc. (MARA) has a 20-day trading average at $5.33 and the current price is -72.51% off the 52-week high compared with 189.39% distance from its 52-week low. The 50-day simple moving average of the closing price is $5.94 and its 200-day simple moving average is $10.60. If we look at the stock’s price movements over the week, volatility stands at 16.66%, which decreases to 15.61% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 69.23 to suggest the stock is neutral.
8 analysts observing the Marathon Digital Holdings Inc. (MARA) stock have set the 12-month price targets for the company’s shares at between $4.00 and $20.00. The consensus objective for the share price is $11.91, suggesting that the stock has a potential upside of 24.43% over the period. The median price target is 21.74% away from the current levels at $11.50.
FactSet Research has provided data showing that 8 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 4 analysts have rated it as a buy and 4 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 09, 2023 when Jefferies downgraded the stock to “Hold” and issued a price target of between $12.50 and $4. Cowen initiated its price target at $7.
The current price level is 77.87%, 50.95%, and -15.74% away from its SMA20, SMA50, and SMA200 respectively, with the MARA price moving below the 50-day SMA on January 23. Marathon Digital Holdings Inc. (MARA) stock is up 17.19% over the week and 130.18% over the past month. Its price is 163.16% year-to-date and -63.75% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2022, with the company’s earnings per share (EPS) of -$1.75 below consensus estimates by -$1.5. The company’s next earnings report is expected on 05/17/2023, with forecasts estimating quarterly EPS at -$0.35 and -$2.2 for whole year. MARA’s earnings per share are forecast to shrink by -511.10% this year and 139.50% over next year. Expected sales for next quarter are $70.32 million, which analysts say will come at $229.45 million for the current fiscal year and next year at $798.9 million. In addition, estimates put the company’s current quarterly revenue at an average of $28.14 million.
Its 12-month price target is $11.50. To reach the target analysts have set, the stock logically needs to grow 24.43 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $4.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $20.00.
Outstanding shares total 116.53M with insiders holding 7.54% of the shares and institutional holders owning 40.09% of the company’s common stock. The company has a return on investment of -7.70% and return on equity of -39.20%. The forward price to earnings ratio is 13.93. The beta has a value of 4.97. Price to book ratio is 1.68 and price to sales ratio is 6.39.
Vanguard Total Stock Market Index isn’t the only investment manager who changed stakes and is followed by Vanguard Small Cap Index Fund, which sold off 4724.0 shares to end up with 2,860,177 shares worth $9.78 million. iShares Russell 2000 ETF cut their holdings by -1.03% in the company over the course of the most recent quarter. It now holds a 2.25% position in Marathon Digital Holdings Inc. thanks to 2.63 million shares amounting to $9.01 million.