Marathon Digital (NASDAQ:MARA) Trading 1.1% Higher Following Analyst Upgrade

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price rose 1.1% during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $18.00 to $19.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Marathon Digital traded as high as $15.54 and last traded at $15.20. Approximately 12,393,219 shares were traded during trading, a decline of 72% from the average daily volume of 45,029,851 shares. The stock had previously closed at $15.04.

Several other analysts have also recently commented on the company. Piper Sandler dropped their price target on Marathon Digital from $30.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. HC Wainwright reaffirmed a "buy" rating and set a $28.00 target price on shares of Marathon Digital in a research note on Thursday, April 24th. Barclays upped their target price on shares of Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Rosenblatt Securities raised their price target on shares of Marathon Digital from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, Compass Point restated a "sell" rating and set a $9.50 price target (down from $25.00) on shares of Marathon Digital in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Marathon Digital currently has a consensus rating of "Hold" and a consensus target price of $20.94.

Insider Activity

In other Marathon Digital news, CEO Frederick G. Thiel sold 55,010 shares of Marathon Digital stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $15.00, for a total transaction of $825,150.00. Following the transaction, the chief executive officer now directly owns 4,146,804 shares of the company's stock, valued at $62,202,060. The trade was a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas K. Mellinger sold 3,000 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $16.00, for a total transaction of $48,000.00. Following the completion of the sale, the director now directly owns 176,859 shares of the company's stock, valued at approximately $2,829,744. This trade represents a 1.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 198,853 shares of company stock valued at $3,054,629. 0.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MARA. Rhumbline Advisers raised its position in Marathon Digital by 10.0% in the first quarter. Rhumbline Advisers now owns 917,299 shares of the business services provider's stock valued at $10,549,000 after purchasing an additional 83,242 shares during the period. Strs Ohio acquired a new stake in shares of Marathon Digital during the 1st quarter worth about $363,000. Intech Investment Management LLC increased its position in shares of Marathon Digital by 14.5% during the 1st quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider's stock worth $1,848,000 after purchasing an additional 20,413 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Marathon Digital by 11.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider's stock valued at $7,398,000 after buying an additional 63,903 shares during the period. Finally, United Services Automobile Association lifted its position in Marathon Digital by 8.2% in the first quarter. United Services Automobile Association now owns 20,634 shares of the business services provider's stock valued at $257,000 after buying an additional 1,569 shares during the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Digital Trading Down 1.2%

The company has a market cap of $5.10 billion, a PE ratio of -9.99 and a beta of 6.61. The company's 50 day simple moving average is $14.60 and its two-hundred day simple moving average is $16.18. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.79 and a quick ratio of 0.79.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.06). Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The company had revenue of $213.88 million during the quarter, compared to analyst estimates of $234.19 million. During the same quarter in the prior year, the company posted $1.26 earnings per share. The business's revenue was up 29.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

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.