Marathon Digital (NASDAQ:MARA) Trading 1.9% Higher - Time to Buy?

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 were up 1.9% during trading on Tuesday . The stock traded as high as $15.82 and last traded at $15.49. Approximately 14,240,911 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 43,082,246 shares. The stock had previously closed at $15.20.

Analysts Set New Price Targets

Several research analysts recently commented on MARA shares. 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. 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 report on Monday, July 28th. Piper Sandler lifted 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. Macquarie lifted their target price on shares of Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, Compass Point upgraded shares of Marathon Digital from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $9.50 to $18.00 in a report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Marathon Digital has an average rating of "Moderate Buy" and a consensus price target of $24.50.

Marathon Digital Stock Up 3.8%

The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 14.69 and a beta of 6.35. The firm's 50-day simple moving average is $16.65 and its 200-day simple moving average is $15.01.

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

Insider Activity

In other news, 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 sale, the chief executive officer directly owned 3,810,799 shares in the company, valued at approximately $58,229,008.72. The trade was a 0.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $546,334.36. Following the sale, the chief financial officer owned 353,160 shares in the company, valued at approximately $5,555,206.80. This trade represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 169,866 shares of company stock worth $2,862,290. Corporate insiders own 0.80% of the company's stock.

Institutional Trading of Marathon Digital

Institutional investors have recently made changes to their positions in the business. Park Square Financial Group LLC acquired a new stake in shares of Marathon Digital during the 4th quarter valued at about $27,000. Fifth Third Bancorp boosted its position in shares of Marathon Digital by 59.9% during 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 in the last quarter. Estabrook Capital Management acquired a new stake in shares of Marathon Digital during the 2nd quarter valued at about $31,000. IFP Advisors Inc boosted its position in Marathon Digital by 375.4% in the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock valued at $40,000 after buying an additional 2,001 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in Marathon Digital by 38.6% in the second quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider's stock valued at $76,000 after buying an additional 1,340 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.