Marathon Digital (NASDAQ:MARA) Stock Price Up 5% - What's Next?

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) traded up 5% on Monday . The company traded as high as $21.50 and last traded at $20.10. 40,437,456 shares were traded during mid-day trading, a decline of 3% from the average session volume of 41,603,125 shares. The stock had previously closed at $19.14.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Piper Sandler decreased their price target on Marathon Digital from $30.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Rosenblatt Securities raised 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. JPMorgan Chase & Co. raised 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. Barclays raised their price target on Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Finally, Compass Point restated 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. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Marathon Digital presently has a consensus rating of "Hold" and a consensus price target of $20.94.

Marathon Digital Stock Performance

The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of -13.25 and a beta of 6.53. The stock has a 50-day moving average price of $15.65 and a 200-day moving average price of $15.32. 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 released its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) 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 business had revenue of $213.88 million during the quarter, compared to analyst estimates of $234.19 million. During the same period in the previous year, the business earned $1.26 earnings per share. The business's quarterly revenue was up 29.5% on a year-over-year basis. As a group, analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Activity

In related news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $15.30, for a total transaction of $420,826.50. Following the completion of the sale, the chief executive officer directly owned 3,983,593 shares of the company's stock, valued at approximately $60,948,972.90. This trade represents a 0.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Douglas K. Mellinger sold 3,000 shares of Marathon Digital stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $16.00, for a total value of $48,000.00. Following the sale, the director directly owned 176,859 shares of the company's stock, 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. Insiders sold a total of 199,853 shares of company stock valued at $3,072,049 over the last three months. Insiders own 0.80% of the company's stock.

Institutional Trading of Marathon Digital

Several hedge funds have recently added to or reduced their stakes in MARA. Park Square Financial Group LLC acquired a new stake in Marathon Digital during the 4th quarter worth approximately $27,000. Sterling Capital Management LLC increased its stake in 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 acquiring an additional 1,426 shares during the period. Brown Brothers Harriman & Co. bought a new position in Marathon Digital during the 4th quarter worth $50,000. US Bancorp DE increased its stake in Marathon Digital by 73.3% during the 4th quarter. US Bancorp DE now owns 3,559 shares of the business services provider's stock worth $60,000 after acquiring an additional 1,505 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in Marathon Digital by 211.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,500 shares of the business services provider's stock worth $64,000 after acquiring an additional 2,375 shares during the period. 44.53% of the stock is owned by institutional investors and hedge funds.

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.