Marathon Digital (NASDAQ:MARA) Stock Price Up 1.3% – Time to Buy?

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

Analyst Upgrades and Downgrades

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

Marathon Digital Trading Down 6.4 %

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 $5.02 billion, a P/E ratio of 10.94 and a beta of 5.50. The business has a 50 day moving average price of $16.47 and a 200-day moving average price of $18.34.

Marathon Digital (NASDAQ:MARA) last posted 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). The business had revenue of $145.14 million for the quarter, compared to analyst estimates of $157.86 million. Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The firm’s revenue was up 77.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.13) earnings per share. Analysts forecast that Marathon Digital Holdings, Inc. will post -1.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $292,250.00. Following the transaction, the chief financial officer now directly owns 2,077,232 shares of the company’s stock, valued at approximately $36,351,560. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing 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 Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $292,250.00. Following the transaction, the chief financial officer now directly owns 2,077,232 shares of the company’s stock, valued at approximately $36,351,560. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of the business’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 value of $431,938.40. Following the transaction, the chief executive officer now directly owns 4,278,309 shares in the company, valued at $67,169,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,417 shares of company stock valued at $1,516,536. 0.97% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MARA. Wealth Enhancement Advisory Services LLC grew its holdings in Marathon Digital by 91.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 52,624 shares of the business services provider’s stock valued at $1,188,000 after buying an additional 25,205 shares in the last quarter. SteelPeak Wealth LLC acquired a new position in Marathon Digital in the 1st quarter valued at $624,000. Diversified Trust Co grew its holdings in Marathon Digital by 27.4% in the 1st quarter. Diversified Trust Co now owns 38,355 shares of the business services provider’s stock valued at $866,000 after buying an additional 8,255 shares in the last quarter. United Capital Management of KS Inc. grew its holdings in Marathon Digital by 49.9% in the 1st quarter. United Capital Management of KS Inc. now owns 19,088 shares of the business services provider’s stock valued at $431,000 after buying an additional 6,350 shares in the last quarter. Finally, Wealthstar Advisors LLC acquired a new position in Marathon Digital in the 1st quarter valued at $248,000. 44.53% of the stock is owned by institutional investors and hedge funds.

Marathon Digital Company Profile

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.