Marathon Digital (NASDAQ:MARA) Trading Up 4.9% - Still a Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price traded up 4.9% during trading on Tuesday . The company traded as high as $15.05 and last traded at $14.88. 13,066,196 shares traded 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.

Wall Street Analysts Forecast Growth

MARA has been the subject of several recent analyst reports. Compass Point restated a "sell" rating and issued a $9.50 target price (down previously from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. JPMorgan Chase & Co. raised their price objective on shares of Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. HC Wainwright reaffirmed a "buy" rating and issued a $28.00 price objective on shares of Marathon Digital in a report on Thursday, April 24th. Needham & Company LLC reissued a "hold" rating on shares of Marathon Digital in a research note on Thursday, February 27th. Finally, Piper Sandler reduced their price target on Marathon Digital from $30.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $20.94.

Marathon Digital Trading Down 1.6%

The business has a fifty day moving average of $14.87 and a two-hundred day moving average of $15.74. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of -10.36 and a beta of 6.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current 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). Marathon Digital had a negative net margin of 46.68% and a positive return on equity of 6.33%. The business had revenue of $213.88 million during the quarter, compared to analysts' expectations of $234.19 million. During the same period last year, the company earned $1.26 EPS. The firm's revenue for the quarter was up 29.5% on a year-over-year basis. As a group, equities analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Frederick G. Thiel sold 55,010 shares of the company's 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 transaction, the chief executive officer now directly owns 4,146,804 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, Director Douglas K. Mellinger sold 3,000 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was 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 directly owns 176,859 shares in the company, valued at approximately $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. In the last quarter, insiders sold 198,853 shares of company stock worth $3,054,629. 0.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marathon Digital

Hedge funds have recently made changes to their positions in the stock. Park Square Financial Group LLC purchased a new stake in Marathon Digital during the fourth quarter valued at about $27,000. Sterling Capital Management LLC grew its holdings in shares of Marathon Digital by 358.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock worth $31,000 after purchasing an additional 1,426 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in Marathon Digital during the 4th quarter worth approximately $50,000. US Bancorp DE raised its holdings in Marathon Digital by 73.3% in the fourth quarter. US Bancorp DE now owns 3,559 shares of the business services provider's stock valued at $60,000 after buying an additional 1,505 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its position in Marathon Digital by 211.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,500 shares of the business services provider's stock valued at $64,000 after buying an additional 2,375 shares in the last quarter. Institutional investors and hedge funds 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.