Investors are constantly searching for the next big winner. We mean the stocks that are on track to see explosive growth, handsomely rewarding the investors that managed to get onboard at the right time. But how are investors supposed to know when it’s time to snap up the right stock?
The Street’s seasoned pros tell investors that compelling investments can be found among names that have stumbled lately. Rockiness in share prices can present a unique opportunity to get in on the action before the stock heats up.
Taking this into consideration, we’ve used TipRanks’ database to pinpoint 3 tickers with strong growth narratives that remain intact despite recent weakness. If this wasn’t promising enough, each of the names has received enough bullish calls in the last three months to be given a “Strong Buy” consensus rating.
Marathon Digital Holdings (MARA)
The first beaten-down stock we’re looking at is Marathon Digital Holdings, one of the US’s biggest Bitcoin miners. The company operates a data center in Hardin, Montana with a maximum power capacity of 105 Megawatts. That said, aiming to become 100% carbon neutral by the end of 2022, the company has pledged to move out of the coal-powered facility by Q3. At a co-hosted facility in North Dakota, Marathon also owns 2,060 top of the line ASIC Bitcoin miners.
The company has set its sights on expansion. By-mid 2022, Marathon is on schedule to install a total of 133,000 miners, generating around 13.3 exahash while it also remains on track to meet its hashrate guidance of 23.3 exahash per second (EH/s) by early 2023.
To reach that goal, the company is setting up shop at Compute North’s new 300-megawatt Texas data center which will become home to Marathon Digital’s recently purchased bitcoin miners – 73,000 of them.
However, there have been delays in the installation and despite producing a record 1,259 BTC in Q1 2022 (amounting to a 556% year-over-year uptick), the lack of new rig installs in March saw figures miss analysts’ expectations.
Unfortunately for investors, Marathon Digital stock has…