Marathon Digital (NASDAQ:MARA) Trading 0.2% Higher – Time to Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded up 0.2% during trading on Friday . The company traded as high as $19.43 and last traded at $19.35. 14,960,017 shares were traded during mid-day trading, a decline of 72% from the average session volume of 53,345,395 shares. The stock had previously closed at $19.31.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Cantor Fitzgerald assumed coverage on shares of Marathon Digital in a research report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 target price on the stock. JPMorgan Chase & Co. reduced their price target 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. 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 report on Friday, July 12th. Macquarie started coverage on shares of Marathon Digital in a research report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research report on Thursday, October 10th. Two research 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. According to data from MarketBeat.com, Marathon Digital presently has an average rating of “Hold” and an average target price of $21.43.

Marathon Digital Price Performance

The company has a market capitalization of $5.67 billion, a PE ratio of 12.40 and a beta of 5.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75. The company’s 50 day simple moving average is $16.53 and its 200 day simple moving average is $18.44.

Insider Buying and Selling at Marathon Digital

In other 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 transaction, the chief financial officer now directly 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 SEC, which is accessible through this link. In other news, CEO Frederick G. Thiel sold 27,512 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 approximately $67,169,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Salman Hassan Khan sold 16,700 shares of the 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 sale, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at approximately $33,022,547.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,417 shares of company stock worth $1,516,536 over the last three months. Insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Several hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. lifted its holdings in shares of Marathon Digital by 55.0% during the third quarter. Meeder Asset Management Inc. now owns 17,383 shares of the business services provider’s stock worth $282,000 after purchasing an additional 6,168 shares during the period. Swiss National Bank lifted its holdings in Marathon Digital by 4.9% in the third quarter. Swiss National Bank now owns 552,000 shares of the business services provider’s stock valued at $8,953,000 after acquiring an additional 25,600 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Marathon Digital by 2.1% in the third quarter. Thrivent Financial for Lutherans now owns 231,248 shares of the business services provider’s stock valued at $3,751,000 after acquiring an additional 4,654 shares during the period. Mutual of America Capital Management LLC lifted its holdings in Marathon Digital by 112.4% in the third quarter. Mutual of America Capital Management LLC now owns 203,975 shares of the business services provider’s stock valued at $3,308,000 after acquiring an additional 107,963 shares during the period. Finally, Phraction Management LLC acquired a new stake in Marathon Digital in the third quarter valued at $211,000. 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.