Marathon Digital (NASDAQ:MARA) Shares Up 1.9% - What's Next?

Key Points

• Marathon Digital's stock rose 1.9% on Tuesday, closing at $15.49, though trading volume decreased significantly by 67% compared to its average.
• Brokerages have given positive ratings, with several firms raising their price targets, including Cantor Fitzgerald, which increased its target from $34.00 to $39.00, suggesting a bullish outlook on the stock.
• The company reported earnings of $1.84 per share, significantly higher than the estimated loss, and showed a 64% increase in revenue compared to the previous year.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares shot up 1.9% during trading on Tuesday . The stock traded as high as $15.82 and last traded at $15.49. 14,240,911 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 43,082,246 shares. The stock had previously closed at $15.20.

Analyst Ratings Changes

Several brokerages have commented on MARA. BTIG Research restated a "buy" rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Friday. Piper Sandler lifted their target price on shares of Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Compass Point upgraded shares of Marathon Digital from a "sell" rating to a "neutral" rating and lifted their target price for the company from $9.50 to $18.00 in a report on Friday, July 25th. Macquarie lifted their target price on shares of Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Cantor Fitzgerald lifted their target price on shares of Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.50.

Marathon Digital Price Performance

The stock has a market capitalization of $5.86 billion, a PE ratio of 14.28 and a beta of 6.36. The firm's 50-day moving average price is $16.76 and its 200-day moving average price is $14.95. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47.

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

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $15.73, for a total value of $546,334.36. Following the sale, the chief financial officer owned 353,160 shares in the company, valued at $5,555,206.80. This trade represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $15.28, for a total transaction of $420,276.40. Following the completion of the sale, the chief executive officer owned 3,810,799 shares in the company, valued at approximately $58,229,008.72. This trade represents a 0.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 188,712 shares of company stock worth $3,170,128 in the last quarter. Company insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Marathon Digital

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp increased its stake 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. CX Institutional increased its holdings in shares of Marathon Digital by 12.6% in the 2nd quarter. CX Institutional now owns 6,698 shares of the business services provider's stock valued at $105,000 after purchasing an additional 749 shares in the last quarter. Archer Investment Corp increased its holdings in shares of Marathon Digital by 10.9% in the 2nd quarter. Archer Investment Corp now owns 7,650 shares of the business services provider's stock valued at $120,000 after purchasing an additional 750 shares in the last quarter. Ranch Capital Advisors Inc. increased its holdings in shares of Marathon Digital by 5.8% in the 1st quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider's stock valued at $168,000 after purchasing an additional 805 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Marathon Digital by 5.1% in the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock valued at $304,000 after purchasing an additional 878 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

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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