Marathon Digital (NASDAQ:MARA) Shares Gap Up - Here's What Happened

Key Points

• Marathon Digital gapped up premarket, opening at $11.74 vs. the prior close of $11.11 and last trading around $11.86 on roughly 10.97 million shares, up about 4.8%.
• Analysts maintain a consensus Moderate Buy rating with a $23.50 price target after mixed notes and target revisions (eight Buys, five Holds).
• The company posted an EPS miss (‑$0.32 vs. ‑$0.26 estimate) and slightly below‑consensus revenue, while insiders have sold ~234,598 shares in the past three months, and the stock carries a $4.4B market cap and high beta (6.40).

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $11.11, but opened at $11.74. Marathon Digital shares last traded at $11.8630, with a volume of 10,969,444 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Rosenblatt Securities reduced their price target on Marathon Digital from $25.00 to $22.00 and set a "buy" rating for the company in a report on Wednesday, November 5th. Compass Point upgraded Marathon Digital from a "neutral" rating to a "buy" rating and set a $30.00 price target for the company in a research report on Monday. Guggenheim began coverage on shares of Marathon Digital in a research report on Tuesday, October 21st. They set a "neutral" rating for the company. JPMorgan Chase & Co. reduced their target price on shares of Marathon Digital from $20.00 to $13.00 and set an "overweight" rating for the company in a report on Monday. Finally, Cantor Fitzgerald cut their price objective on Marathon Digital from $30.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, November 5th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Marathon Digital has a consensus rating of "Moderate Buy" and a consensus price target of $23.50.

Marathon Digital Trading Up 4.8%

The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $4.40 billion, a P/E ratio of 10.51 and a beta of 6.40. The business's fifty day simple moving average is $16.93 and its two-hundred day simple moving average is $16.46.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.06). Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The business had revenue of $252.41 million during the quarter, compared to the consensus estimate of $254.58 million. As a group, analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Buying and Selling at Marathon Digital

In other news, CFO Salman Hassan Khan sold 34,732 shares of the business's stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $11.99, for a total transaction of $416,436.68. Following the completion of the transaction, the chief financial officer directly owned 283,298 shares in the company, valued at approximately $3,396,743.02. The trade was a 10.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vicki Mealer-Burke sold 14,887 shares of the company's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $15.22, for a total transaction of $226,580.14. Following the completion of the transaction, the director owned 58,103 shares of the company's stock, valued at $884,327.66. This trade represents a 20.40% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 234,598 shares of company stock valued at $3,876,481. 0.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Marathon Digital

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management boosted its position in Marathon Digital by 2,407.4% during the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider's stock worth $25,000 after buying an additional 1,300 shares during the period. Fifth Third Bancorp lifted its holdings in Marathon Digital by 59.9% during the 2nd 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 period. Estabrook Capital Management bought a new position in shares of Marathon Digital during the second quarter worth about $31,000. Bessemer Group Inc. lifted its stake in shares of Marathon Digital by 56.8% in the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider's stock worth $33,000 after acquiring an additional 659 shares during the period. Finally, IFP Advisors Inc increased its position in Marathon Digital by 375.4% during the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock valued at $40,000 after purchasing an additional 2,001 shares during the period. 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.

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