Marathon Digital (NASDAQ:MARA) Trading 7.2% Higher – Should You Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares shot up 7.2% on Monday . The company traded as high as $18.38 and last traded at $18.29. 21,251,490 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 53,618,250 shares. The stock had previously closed at $17.06.

Analyst Ratings Changes

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

Marathon Digital Price Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75. The company has a 50-day moving average of $16.47 and a 200-day moving average of $18.35. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 8.51 and a beta of 5.50.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The company had revenue of $145.14 million during the quarter, compared to analysts’ expectations of $157.86 million. During the same quarter in the prior year, the company earned ($0.13) earnings per share. The firm’s revenue was up 77.5% compared to the same quarter last year. As a group, equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.05 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the sale, the chief financial officer now owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were 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 of the company’s stock, valued at $33,022,547.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Frederick G. Thiel sold 27,512 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the sale, the chief executive officer now directly owns 4,278,309 shares in the company, valued at $67,169,451.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,417 shares of company stock valued at $1,516,536 over the last 90 days. Insiders own 1.11% of the company’s stock.

Hedge Funds Weigh In On Marathon Digital

Several hedge funds and other institutional investors have recently modified their holdings of MARA. Vanguard Group Inc. lifted its position in Marathon Digital by 1.9% during the first quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock valued at $540,002,000 after buying an additional 441,455 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Marathon Digital by 261.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after acquiring an additional 2,340,472 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Marathon Digital by 186.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock valued at $40,485,000 after acquiring an additional 1,327,969 shares in the last quarter. Principal Financial Group Inc. boosted its position in Marathon Digital by 4,394.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock worth $26,892,000 after purchasing an additional 1,324,625 shares during the period. Finally, Millennium Management LLC increased its holdings in Marathon Digital by 12.7% in the 2nd quarter. Millennium Management LLC now owns 1,333,856 shares of the business services provider’s stock valued at $26,477,000 after purchasing an additional 149,805 shares in the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

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.