Marathon Digital (NASDAQ:MARA) Shares Up 4.9% - Should You Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price shot up 4.9% during mid-day trading on Tuesday . The company traded as high as $15.05 and last traded at $14.88. 13,066,196 shares changed hands during trading, a decline of 71% from the average session volume of 44,986,898 shares. The stock had previously closed at $14.18.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MARA. Barclays boosted their price objective on Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Needham & Company LLC reiterated a "hold" rating on shares of Marathon Digital in a research note on Thursday, February 27th. JPMorgan Chase & Co. boosted their price target on Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, June 13th. Compass Point reiterated a "sell" rating and issued a $9.50 price target (down from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. Finally, Rosenblatt Securities boosted their price target on Marathon Digital from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $20.94.

Marathon Digital Stock Up 5.1%

The firm's fifty day moving average price is $14.72 and its 200-day moving average price is $15.81. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of -10.28 and a beta of 6.62. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.79 and a quick ratio of 0.79.

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

Insider Transactions at Marathon Digital

In related news, CEO Frederick G. Thiel sold 55,010 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $15.00, for a total value of $825,150.00. Following the completion of the sale, the chief executive officer now directly owns 4,146,804 shares in the company, valued at $62,202,060. This represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Douglas K. Mellinger sold 3,000 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $16.00, for a total value of $48,000.00. Following the completion of the sale, the director now owns 176,859 shares of the company's stock, valued at $2,829,744. The trade was a 1.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,853 shares of company stock worth $3,054,629. Corporate insiders own 0.80% of the company's stock.

Institutional Trading of Marathon Digital

A number of institutional investors and hedge funds have recently bought and sold shares of MARA. Rhumbline Advisers grew its holdings in Marathon Digital by 10.0% during the 1st quarter. Rhumbline Advisers now owns 917,299 shares of the business services provider's stock worth $10,549,000 after acquiring an additional 83,242 shares during the period. Strs Ohio acquired a new stake in Marathon Digital during the 1st quarter worth about $363,000. Intech Investment Management LLC grew its holdings in Marathon Digital by 14.5% during the 1st quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider's stock worth $1,848,000 after acquiring an additional 20,413 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Marathon Digital by 11.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider's stock worth $7,398,000 after acquiring an additional 63,903 shares during the period. Finally, United Services Automobile Association grew its holdings in Marathon Digital by 8.2% during the 1st quarter. United Services Automobile Association now owns 20,634 shares of the business services provider's stock worth $257,000 after acquiring an additional 1,569 shares during the period. 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.

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