Marathon Digital (NASDAQ:MARA) Trading 1.3% Higher – Here’s Why

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price shot up 1.3% during mid-day trading on Friday . The company traded as high as $17.37 and last traded at $16.98. 12,209,407 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 53,494,043 shares. The stock had previously closed at $16.77.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MARA shares. JPMorgan Chase & Co. dropped their price objective on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Friday, August 23rd. B. Riley increased their price target on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Cantor Fitzgerald initiated coverage on Marathon Digital in a report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective for the company. Macquarie assumed coverage on Marathon Digital in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.43.

Marathon Digital Trading Down 2.1 %

The business has a 50 day moving average price of $16.59 and a 200-day moving average price of $18.36. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 10.53 and a beta of 5.50. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13.

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

Insiders Place Their Bets

In other news, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the sale, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. The trade was 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 Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $292,250.00. Following the completion of the transaction, the chief financial officer now directly owns 2,077,232 shares of the company’s stock, valued at $36,351,560. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold 91,417 shares of company stock worth $1,516,536 in the last quarter. 0.97% of the stock is owned by corporate insiders.

Institutional Trading of Marathon Digital

Several institutional investors and hedge funds have recently bought and sold shares of MARA. Private Advisor Group LLC grew its position in shares of Marathon Digital by 27.7% in the 3rd quarter. Private Advisor Group LLC now owns 226,199 shares of the business services provider’s stock worth $3,669,000 after acquiring an additional 49,062 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Marathon Digital during the third quarter worth $640,000. Rhumbline Advisers lifted its position in shares of Marathon Digital by 126.5% in the 2nd quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock worth $15,615,000 after buying an additional 439,309 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Marathon Digital in the 2nd quarter valued at about $4,498,000. Finally, Public Sector Pension Investment Board bought a new stake in shares of Marathon Digital during the 2nd quarter valued at about $11,920,000. Institutional investors and hedge funds 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.