B. Riley analyst Lucas Pipes lowered the firm’s price target on Marathon Digital to $5 from $6 and keeps a Neutral rating on the shares after the company reported Q4 adjusted EBITDA of ($374M). After excluding impairment charges related to deposits, digital assets, and mining equipment, Marathon missed the firm’s EBITDA estimate of $2.3M by roughly $17M on higher energy and hosting costs and higher G&A expense, the analyst tells investors.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on MARA:
- MARA Gains on Q4 Showing; Aims for 23EH Capacity in 2023
- Marathon Digital reports Q4 EPS ($3.14), consensus (16c)
- Marathon Digital Holdings Reports Fourth Quarter and Fiscal Year 2022 Results
- Marathon Patent Group options imply 8.5% move in share price post-earnings
- Marathon Patent Group options imply 9.3% move in share price post-earnings
