Marathon Digital (NASDAQ:MARA) Shares Down 2.4% - What's Next?

Key Points

• Marathon Digital's shares fell by 2.4%, trading at $15.58 with a significant 66% decline in average session volume compared to previous trading days.
• Several brokerages have recently upgraded their price targets for Marathon Digital, with an average target of $24.22 and a consensus rating of "Moderate Buy".
• Recently reported earnings showed Marathon Digital surpassed analysts' expectations, with $1.84 EPS and revenue increasing by 64% year-over-year.

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) fell 2.4% on Friday . The stock traded as low as $15.54 and last traded at $15.58. 14,469,546 shares traded hands during trading, a decline of 66% from the average session volume of 42,483,652 shares. The stock had previously closed at $15.96.

Analysts Set New Price Targets

Several brokerages recently weighed in on MARA. Compass Point upgraded Marathon Digital from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $9.50 to $18.00 in a research note on Friday, July 25th. Piper Sandler increased their price objective on Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Rosenblatt Securities reissued a "buy" rating and issued a $20.00 price objective on shares of Marathon Digital in a report on Wednesday, July 30th. Macquarie increased their price objective on Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. raised Marathon Digital from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $19.00 to $22.00 in a report on Monday, July 28th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $24.22.

Marathon Digital Stock Down 0.2%

The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. The stock has a market cap of $5.90 billion, a PE ratio of 14.35 and a beta of 6.24. The business has a 50 day moving average price of $16.66 and a 200 day moving average price of $14.99.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $2.13. The firm had revenue of $238.50 million for the quarter, compared to the consensus estimate of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The company's revenue was up 64.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.72) earnings per share. Equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Activity at Marathon Digital

In related news, CFO Salman Hassan Khan sold 34,733 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $15.85, for a total value of $550,518.05. Following the completion of the transaction, the chief financial officer directly owned 1,413,298 shares in the company, valued at approximately $22,400,773.30. This represents a 2.40% 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, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $15.28, for a total value of $420,276.40. Following the completion of the transaction, the chief executive officer owned 3,810,799 shares of the company's stock, valued at $58,229,008.72. The trade was a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,712 shares of company stock valued at $3,186,128 over the last quarter. 0.80% of the stock is currently owned by company insiders.

Institutional Trading of Marathon Digital

Hedge funds and other institutional investors have recently bought and sold shares of the business. Park Square Financial Group LLC purchased a new position in shares of Marathon Digital during the fourth quarter worth about $27,000. Fifth Third Bancorp grew its holdings in shares of Marathon Digital by 59.9% during the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock worth $29,000 after buying an additional 683 shares during the last quarter. Estabrook Capital Management purchased a new position in shares of Marathon Digital during the second quarter worth about $31,000. IFP Advisors Inc grew its holdings in shares of Marathon Digital by 375.4% during the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock worth $40,000 after buying an additional 2,001 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Marathon Digital by 28.9% during the 4th quarter. NewEdge Advisors LLC now owns 4,640 shares of the business services provider's stock worth $78,000 after acquiring an additional 1,040 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.

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