Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price was down 2.4% on Friday . The company traded as low as $14.66 and last traded at $14.75. Approximately 19,370,690 shares changed hands during trading, a decline of 55% from the average daily volume of 42,860,348 shares. The stock had previously closed at $15.11.
Analyst Ratings Changes
A number of research firms recently issued reports on MARA. Cantor Fitzgerald upped their price target on shares of Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Macquarie upped their price target 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. Barclays upped their price target 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. BTIG Research reiterated a "buy" rating and set a $27.00 target price on shares of Marathon Digital in a report on Friday. Finally, Rosenblatt Securities restated a "buy" rating and issued a $20.00 price target on shares of Marathon Digital in a report on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.50.
Check Out Our Latest Stock Report on MARA
Marathon Digital Stock Performance
The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $5.63 billion, a PE ratio of 13.68 and a beta of 6.35. The firm's fifty day moving average price is $16.76 and its two-hundred day moving average price is $14.97.
Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, topping the consensus estimate of ($0.29) by $2.13. The company had revenue of $238.50 million during 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 firm's revenue was up 64.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.72) EPS. As a group, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.
Insider Buying and Selling at Marathon Digital
In related news, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $15.28, for a total value of $420,276.40. Following the completion of the sale, the chief executive officer owned 3,810,799 shares of the company's stock, 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 can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction on Friday, August 15th. The stock was sold at an average price of $15.73, for a total transaction of $546,334.36. Following the sale, the chief financial officer directly owned 353,160 shares in the company, valued at approximately $5,555,206.80. This trade represents a 8.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 188,712 shares of company stock valued at $3,170,128. 0.80% of the stock is owned by insiders.
Institutional Investors Weigh In On Marathon Digital
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. boosted its stake in Marathon Digital by 38.6% during the 2nd quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider's stock worth $76,000 after purchasing an additional 1,340 shares during the last quarter. Total Investment Management Inc. acquired a new stake in Marathon Digital during the 2nd quarter worth $151,000. Thrivent Financial for Lutherans boosted its stake in Marathon Digital by 3.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 258,778 shares of the business services provider's stock worth $4,058,000 after purchasing an additional 9,495 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its stake in Marathon Digital by 92.3% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 47,915 shares of the business services provider's stock worth $751,000 after purchasing an additional 23,000 shares during the last quarter. Finally, Marex Group plc acquired a new stake in Marathon Digital during the 2nd quarter worth $84,301,000. Institutional investors and hedge funds own 44.53% of the company's stock.
Marathon Digital Company Profile
(
Get Free Report)
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.
Further Reading
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