What's Going On With Marathon Digital And Riot Platforms Stock?

Marathon Digital Holdings, Inc. MARA and Riot Platforms, Inc. RIOT shares are trading higher Thursday. Bitcoin BTC/USD is up more than 4% and is trading above $45,000.

What To Know:

Marathon Digital and Riot Platforms shares have had a tough start to 2024 and are trading more than down by 17% and 20%, respectively, year-to-date. Both companies also reported a decrease in monthly Bitcoin production for January earlier this week.

Shares of the Bitcoin miners appear to be trading higher with the price of Bitcoin which has breached the $45,000 mark on Thursday. Bitcoin has fallen more than 4% over the past month after the long-awaited approvals of several spot Bitcoin ETFs were announced, though the cryptocurrency remains nearly 100% higher over the past year.

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MARA Stock Prediction 2024

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of Marathon Digital Holdings have an average 1-year price target of $25.5, representing an expected upside of 31.92%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Marathon Digital Holdings, while 2 analysts have bullish ratings. The street high price target from BTIG is $27.0, while the street low from HC Wainwright & Co. is $24.

MARA, RIOT Price Action: According to Benzinga Pro, Marathon Digital shares are up 10.2% at $19.33, and Riot Platforms shares are up 7.95% at $12.22 at the time of publication.

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