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

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share 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 were traded during 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 equities analysts have commented on MARA shares. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research note on Thursday, October 10th. Macquarie initiated coverage on Marathon Digital in a research note on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price objective on the stock. Cantor Fitzgerald started coverage on Marathon Digital in a report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 target price for the company. JPMorgan Chase & Co. decreased their price target on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Finally, B. Riley lifted their price objective 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. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $21.43.

Marathon Digital Price Performance

The stock has a 50 day moving average of $16.53 and a 200-day moving average of $18.37. The stock has a market capitalization of $4.74 billion, a P/E ratio of 10.33 and a beta of 5.52. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.49). The business had revenue of $145.14 million for the quarter, compared to the consensus estimate 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 for the quarter was up 77.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.13) earnings per share. On average, equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.05 earnings per share for the current fiscal year.

Insider Activity at Marathon Digital

In other Marathon Digital 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 value of $262,190.00. Following the transaction, the chief financial officer now directly owns 2,103,347 shares in the company, valued at $33,022,547.90. This 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 this hyperlink. In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $481,337.50. Following the transaction, the chief executive officer now directly owns 4,250,804 shares in the company, valued at $74,389,070. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,417 shares of company stock worth $1,516,536 in the last 90 days. 0.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marathon Digital

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings 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 during the period. Dimensional Fund Advisors LP increased its holdings in shares of Marathon Digital by 261.1% in 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 during the period. Bank of New York Mellon Corp raised its position in shares of Marathon Digital by 186.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock worth $40,485,000 after acquiring an additional 1,327,969 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Marathon Digital by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,391,916 shares of the business services provider’s stock worth $22,577,000 after purchasing an additional 37,150 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Marathon Digital by 12.7% during the second 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. Institutional investors own 44.53% of the company’s stock.

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.