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Why Marathon Digital Stock Is a Great Value Play for Bitcoin Believers
Sure, you can buy a spot Bitcoin ( BTC-USD ) exchange-traded fund, but here's a much more interesting idea: Marathon Digital (NASDAQ: MARA ) is a premier crypto miner with impressive financials. As you learn more about the company, you'll see why Marathon Digital stock is a prime pick for Bitcoin aficionados.
If You'd Invested $1,000 in Marathon Digital Holdings 5 Years Ago, Here's How Much You'd Have Today
Marathon Digital's stock has surged 600% in the past five years. The new Bitcoin bull market is adding fuel to the fire.
Bitcoin or Marathon Digital: Which is a better pick?
Mathon Digital Holdings Inc. (NASDAQ:MARA), a prominent player in the Bitcoin mining space, has notably underperformed Bitcoin since the start of 2022. Despite Bitcoin's strong rally that has seen it surpass its previous all-time high made in November 2021, Marathon Digital's stock has struggled.
Natixis Advisors L.P. Makes New $296,000 Investment in Marathon Digital Holdings, Inc. (NASDAQ:MARA)
Natixis Advisors L.P. purchased a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,631 shares of the business services provider’s stock, valued at approximately $296,000. A number of other hedge funds also recently modified their holdings of the stock. Arizona State Retirement System raised its holdings in shares of Marathon Digital by 3.0% in the 3rd quarter. Arizona State Retirement System now owns 48,395 shares of the business services provider’s stock worth $411,000 after purchasing an additional 1,419 shares during the period. Versant Capital Management Inc raised its holdings in shares of Marathon Digital by 752.3% in the 4th quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock worth $39,000 after purchasing an additional 1,467 shares during the period. CWM LLC raised its holdings in shares of Marathon Digital by 62.5% in the 4th quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock worth $107,000 after purchasing an additional 1,754 shares during the period. Kestra Advisory Services LLC raised its holdings in shares of Marathon Digital by 16.8% in the 3rd quarter. Kestra Advisory Services LLC now owns 12,888 shares of the business services provider’s stock worth $110,000 after purchasing an additional 1,858 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Marathon Digital in the 4th quarter worth approximately $61,000. Institutional investors own 44.53% of the company’s stock. Marathon Digital Price Performance MARA opened at $19.45 on Monday. Marathon Digital Holdings, Inc. has a 12-month low of $7.16 and a 12-month high of $34.09. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 9.05 and a beta of 5.38. The company has a current ratio of 23.07, a quick ratio of 23.07 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $18.85 and a two-hundred day simple moving average of $19.00. Marathon Digital (NASDAQ:MARA – Get Free Report) last released its earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The business had revenue of $156.77 million during the quarter, compared to analysts’ expectations of $138.15 million. Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. Research analysts predict that Marathon Digital Holdings, Inc. will post -0.17 earnings per share for the current fiscal year. Analyst Ratings Changes MARA has been the topic of a number of analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Marathon Digital in a report on Friday, May 10th. HC Wainwright lowered their target price on shares of Marathon Digital from $35.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Chardan Capital reduced their price target on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a research report on Wednesday, April 10th. Finally, B. Riley reduced their price target on shares of Marathon Digital from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Marathon Digital presently has a consensus rating of “Hold” and a consensus target price of $19.69. Check Out Our Latest Stock Report on Marathon Digital Marathon Digital Profile (Free Report) Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem 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. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.
