Marathon Digital (NASDAQ:MARA) Stock Price Up 1.3% - Still a Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price rose 1.3% during trading on Wednesday . The stock traded as high as $18.07 and last traded at $17.74. Approximately 12,202,841 shares were traded during trading, a decline of 73% from the average daily volume of 45,020,125 shares. The stock had previously closed at $17.52.

Analysts Set New Price Targets

A number of analysts recently commented on MARA shares. Rosenblatt Securities boosted their target price on shares of Marathon Digital from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. JPMorgan Chase & Co. increased their target price on shares of Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, June 13th. HC Wainwright reissued a "buy" rating and set a $28.00 target price on shares of Marathon Digital in a research note on Thursday, April 24th. Compass Point reissued a "sell" rating and set a $9.50 target price (down from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. Finally, Piper Sandler cut their target price on shares of Marathon Digital from $30.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $20.94.

Marathon Digital Price Performance

The stock's fifty day moving average price is $15.55 and its 200-day moving average price is $15.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of -13.20 and a beta of 6.53.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $213.88 million for the quarter, compared to analyst estimates of $234.19 million. During the same quarter in the prior year, the firm earned $1.26 EPS. The firm's revenue was up 29.5% compared to the same quarter last year. Equities research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 34,733 shares of the stock in a transaction 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 in the company, valued at $22,400,773.30. This represents a 2.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction 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 transaction, the chief executive officer owned 3,983,593 shares in the company, valued at approximately $60,948,972.90. This trade represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 199,853 shares of company stock worth $3,072,049 in the last quarter. 0.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. United Services Automobile Association increased its stake in shares of Marathon Digital by 3.4% during the 4th quarter. United Services Automobile Association now owns 19,065 shares of the business services provider's stock worth $320,000 after purchasing an additional 635 shares during the last quarter. CX Institutional lifted its holdings in Marathon Digital by 12.6% during the 2nd quarter. CX Institutional now owns 6,698 shares of the business services provider's stock valued at $105,000 after purchasing an additional 749 shares during the last quarter. Ranch Capital Advisors Inc. lifted its holdings in Marathon Digital by 5.8% during the 1st quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider's stock valued at $168,000 after purchasing an additional 805 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Marathon Digital by 5.1% during the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock valued at $304,000 after purchasing an additional 878 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in Marathon Digital by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider's stock valued at $127,000 after purchasing an additional 991 shares during the last quarter. 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.