Fintel reports that on August 7, 2023, Chardan Capital downgraded their outlook for Marathon Digital Holdings (NASDAQ:MARA) from Buy to Neutral.

Analyst Price Forecast Suggests 6.78% Downside

As of August 2, 2023, the average one-year price target for Marathon Digital Holdings is 14.76. The forecasts range from a low of 8.08 to a high of $22.05. The average price target represents a decrease of 6.78% from its latest reported closing price of 15.83.

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The projected annual revenue for Marathon Digital Holdings is 545MM, an increase of 364.78%. The projected annual non-GAAP EPS is 0.67.

What is the Fund Sentiment?

There are 388 funds or institutions reporting positions in Marathon Digital Holdings. This is an increase of 9 owner(s) or 2.37% in the last quarter. Average portfolio weight of all funds dedicated to MARA is 0.27%, a decrease of 6.78%. Total shares owned by institutions decreased in the last three months by 1.94% to 55,703K shares. The put/call ratio of MARA is 0.86, indicating a bullish outlook.

What are Other Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,417K shares representing 2.01% ownership of the company. In it’s prior filing, the firm reported owning 3,292K shares, representing an increase of 3.64%. The firm increased its portfolio allocation in MARA by 144.33% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 2,897K shares representing 1.70% ownership of the company. In it’s prior filing, the firm reported owning 2,860K shares, representing an increase of 1.29%. The firm increased its portfolio allocation in MARA by 147.92% over the last quarter.

Geode Capital Management holds 2,625K shares representing 1.54% ownership of the company. In it’s prior filing, the firm reported owning 2,401K shares, representing an increase of 8.55%. The firm increased its portfolio allocation in MARA by 157.98% over the last quarter.

IWM – iShares Russell 2000 ETF holds 2,536K shares representing 1.49% ownership of the company. In it’s prior filing, the firm reported owning 2,712K shares, representing a decrease of 6.96%. The firm increased its portfolio allocation in MARA by 149.05% over the last quarter.

Goldman Sachs Group holds 2,400K shares representing 1.41% ownership of the company. In it’s prior filing, the firm reported owning 1,858K shares, representing an increase of 22.56%. The firm decreased its portfolio allocation in MARA by 8.85% over the last quarter.

Marathon Digital Holdings Background Information
(This description is provided by the company.)

Marathon Patent Group Inc. is a digital asset technology company that mines cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets.

This article originally appeared on Fintel

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