Analysts Predict An Marathon Digital Holdings Inc. (NASDAQ: MARA) Spike?
January 6, 2022
Marathon Digital Holdings Inc. (NASDAQ:MARA) shares, rose in value on Thursday, January 06, with the stock price down by -1.59% to the previous day’s close as strong demand from buyers drove the stock to $29.15.
Actively observing the price movement in the recent trading, the stock is buoying the session at $29.62, falling within a range of $29.21 and $33.90. The value of beta (5-year monthly) is 4.72. Referring to stock’s 52-week performance, its high was $83.45, and the low was $14.25. On the whole, MARA has fluctuated by -29.16% over the past month.
With the market capitalization of Marathon Digital Holdings Inc. currently standing at about $3.18 billion, investors are eagerly awaiting this quarter’s results, scheduled for Mar 14, 2022 – Mar 18, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.67, which is expected to increase to $1.03 for fiscal year $0.22 and then to about $4.64 by fiscal year 2022. Data indicates that the EPS growth is expected to be 283.30% in 2022, while the next year’s EPS growth is forecast to be 2,009.10%.
Analysts have estimated the company’s revenue for the quarter at $96.05 million, with a low estimate of $80.2 million and a high estimate of $111.9 million. According to the average forecast, sales growth in current quarter could jump up 3,532.80%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $186.2 million, representing an increase of 4,173.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MARA’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MARA currently trading nearly -19.28% and -39.39% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 33.67, while the 7-day volatility ratio is showing 9.05% which for the 30-day chart, stands at 9.53%. Furthermore, Marathon Digital Holdings Inc. (MARA)’s beta value is 4.56, and its average true range (ATR) is 3.98.
Data on historical trading for Marathon Digital Holdings Inc. (NASDAQ:MARA) indicates that the trading volumes over the past 10 days have averaged 11.21 million and over the past 3 months, they’ve averaged 13.41 million. According to company’s latest data on outstanding shares, there are 100.80 million shares outstanding.
Nearly 5.60% of Marathon Digital Holdings Inc.’s shares belong to company insiders and institutional investors own 37.50% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 17.76 million shares as on Dec 14, 2021, resulting in a short ratio of 1.24. According to the data, the short interest in Marathon Digital Holdings Inc. (MARA) stood at 17.31% of shares outstanding as of Dec 14, 2021; the number of short shares registered in Nov 14, 2021 reached 14.48 million. The stock has fallen by -9.86% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MARA stock heading into the next quarter.
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