Marathon Digital (NASDAQ:MARA) Shares Up 1.4% - Should You Buy?

Key Points

• Marathon Digital's shares saw a 1.4% increase, with a last trade at $15.88 despite an 84% decline in trading volume compared to average sessions.
• Several analysts have set new price targets for MARA, with estimates ranging from $20.00 to $39.00, reflecting a generally positive outlook on the stock.
• The company reported strong quarterly earnings, achieving an EPS of $1.84, which surpassed analyst expectations and indicated significant revenue growth year-over-year.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares shot up 1.4% during mid-day trading on Tuesday . The stock traded as high as $15.95 and last traded at $15.88. 6,800,552 shares were traded during mid-day trading, a decline of 84% from the average session volume of 41,968,137 shares. The stock had previously closed at $15.66.

Analysts Set New Price Targets

Several brokerages have commented on MARA. Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 target price on shares of Marathon Digital in a report on Wednesday, July 30th. Piper Sandler raised their target price on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. JPMorgan Chase & Co. upgraded shares of Marathon Digital from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $19.00 to $22.00 in a report on Monday, July 28th. Cantor Fitzgerald raised their price target on shares of Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, HC Wainwright restated a "buy" rating and set a $28.00 price target on shares of Marathon Digital in a report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.22.

Marathon Digital Trading Up 0.2%

The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 14.15 and a beta of 6.24. The company's 50 day moving average is $16.58 and its 200 day moving average is $15.14. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $2.13. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The company had revenue of $238.50 million during the quarter, compared to analysts' expectations of $212.25 million. During the same quarter in the prior year, the company posted ($0.72) EPS. The business's revenue was up 64.0% on a year-over-year basis. On average, research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Activity

In other news, CFO Salman Hassan Khan sold 34,732 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $19.05, for a total value of $661,644.60. Following the sale, the chief financial officer owned 324,572 shares of the company's stock, valued at approximately $6,183,096.60. This represents a 9.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $19.52, for a total transaction of $536,897.60. Following the sale, the chief executive officer directly owned 3,946,504 shares in the company, valued at approximately $77,035,758.08. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 171,680 shares of company stock worth $2,912,651. 0.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MARA. Park Square Financial Group LLC acquired a new stake in shares of Marathon Digital in the 4th quarter valued at approximately $27,000. Fifth Third Bancorp raised its position in shares of Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock valued at $29,000 after acquiring an additional 683 shares during the period. Sterling Capital Management LLC raised its position in shares of Marathon Digital by 358.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock valued at $31,000 after acquiring an additional 1,426 shares during the period. IFP Advisors Inc raised its holdings 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 worth $40,000 after buying an additional 2,001 shares during the period. Finally, CX Institutional acquired a new stake in Marathon Digital during the 1st quarter worth approximately $68,000. 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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