Marathon Patent Group (MARA) PT Raised to $9 at H.C. Wainwright Following Purchase Agreement

December 14, 2020 8:06 AM EST
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Price: $28.16 --0%

Rating Summary:
    5 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 7 | New: 10
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H.C. Wainwright analyst Kevin Dede raised the price target on Marathon Patent Group (NASDAQ: MARA) to $9.00 (from $7.50) while maintaining a Buy rating following the company's announced forward purchase agreement with Antminer supplier Bitmain Technologies. The agreement is for 10,000 top-of-the-line S-19j Pros, due for shipment and installation during August and September next year.

The new machines bump Marathon's effective cumulative hash rate to 3.56 EH/s, up 39% from its previous target of 2.56 EH/s set with the October 26 announced forward purchase of 10,000 S-19 Pros.

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