Marathon Digital (NASDAQ:MARA) Shares Up 3% - Should You Buy?

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) were up 3% during trading on Friday . The stock traded as high as $19.77 and last traded at $19.57. Approximately 21,882,394 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 45,148,691 shares. The stock had previously closed at $19.00.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Piper Sandler lowered their price target on Marathon Digital from $30.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. HC Wainwright reaffirmed a "buy" rating and issued a $28.00 target price on shares of Marathon Digital in a report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price target on shares of Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, June 13th. Compass Point reaffirmed a "sell" rating and set a $9.50 price objective (down from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. Finally, Barclays raised their price objective on shares of Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $20.94.

Marathon Digital Trading Up 2.0%

The business has a 50-day moving average price of $15.55 and a two-hundred day moving average price of $15.39. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.62. The company has a market cap of $6.82 billion, a P/E ratio of -13.34 and a beta of 6.53.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The business services provider reported ($0.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.06). Marathon Digital had a negative net margin of 46.68% and a positive return on equity of 6.33%. The company had revenue of $213.88 million during the quarter, compared to analyst estimates of $234.19 million. During the same period last year, the company earned $1.26 EPS. The business's revenue for the quarter was up 29.5% compared to the same quarter last year. On average, analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Activity

In related news, CFO Salman Hassan Khan sold 34,733 shares of Marathon Digital stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $15.85, for a total transaction of $550,518.05. Following the transaction, the chief financial officer owned 1,413,298 shares of the company's stock, valued at $22,400,773.30. This trade represents a 2.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas K. Mellinger sold 3,000 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $16.00, for a total transaction of $48,000.00. Following the completion of the sale, the director directly owned 176,859 shares of the company's stock, valued at $2,829,744. The trade was a 1.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 199,853 shares of company stock valued at $3,072,049 in the last ninety days. 0.80% of the stock is owned by insiders.

Institutional Trading of Marathon Digital

Several hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Marathon Digital by 14.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,028,457 shares of the business services provider's stock worth $50,787,000 after acquiring an additional 372,094 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Marathon Digital by 307.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider's stock valued at $729,000 after purchasing an additional 47,826 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Marathon Digital by 1,521.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider's stock worth $147,000 after purchasing an additional 12,032 shares in the last quarter. Alliancebernstein L.P. increased its stake in Marathon Digital by 1.0% during the 4th quarter. Alliancebernstein L.P. now owns 355,218 shares of the business services provider's stock worth $5,957,000 after purchasing an additional 3,393 shares in the last quarter. Finally, Corient Private Wealth LLC acquired a new stake in Marathon Digital during the 4th quarter worth approximately $195,000. Institutional investors and hedge funds own 44.53% of the company's stock.

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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