Marathon Digital (NASDAQ:MARA) Trading 1.3% Higher – Still a Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price shot up 1.3% during trading on Thursday . The stock traded as high as $18.99 and last traded at $18.31. 19,538,648 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 53,606,324 shares. The stock had previously closed at $18.07.

Analyst Ratings Changes

A number of research firms have recently issued reports on MARA. Cantor Fitzgerald began coverage on Marathon Digital in a research note on Thursday, October 10th. They issued an “overweight” rating and a $21.00 target price for the company. JPMorgan Chase & Co. dropped their price objective on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. B. Riley upped their target price on shares of Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Macquarie began coverage on shares of Marathon Digital in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Marathon Digital currently has a consensus rating of “Hold” and an average price target of $19.79.

Marathon Digital Trading Down 0.8 %

The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 8.28 and a beta of 5.50. The firm has a 50-day moving average price of $16.40 and a 200 day moving average price of $18.34.

Marathon Digital (NASDAQ:MARA) last issued its earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The business had revenue of $145.14 million for the quarter, compared to analyst estimates of $157.86 million. During the same period last year, the company posted ($0.13) earnings per share. The firm’s revenue for the quarter was up 77.5% on a year-over-year basis. As a group, sell-side analysts forecast that Marathon Digital Holdings, Inc. will post -1.06 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the sale, the chief financial officer now directly owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the transaction, the chief financial officer now owns 2,103,347 shares in the company, valued at $33,022,547.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $481,337.50. Following the completion of the sale, the chief executive officer now directly owns 4,250,804 shares in the company, valued at approximately $74,389,070. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,417 shares of company stock valued at $1,516,536 over the last quarter. Insiders own 1.11% of the company’s stock.

Hedge Funds Weigh In On Marathon Digital

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers raised its holdings in Marathon Digital by 126.5% during the second quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock worth $15,615,000 after purchasing an additional 439,309 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of Marathon Digital in the 3rd quarter worth $640,000. Thrivent Financial for Lutherans acquired a new stake in shares of Marathon Digital in the second quarter valued at $4,498,000. Public Sector Pension Investment Board bought a new position in Marathon Digital during the second quarter valued at about $11,920,000. Finally, Second Line Capital LLC acquired a new position in Marathon Digital during the second quarter worth about $4,060,000. Institutional investors own 44.53% of the company’s stock.

About Marathon Digital

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.