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

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares shot up 1.3% during mid-day trading on Wednesday . The company traded as high as $18.07 and last traded at $17.74. 12,202,841 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 45,020,125 shares. The stock had previously closed at $17.52.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Marathon Digital from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, June 13th. Compass Point reissued a "sell" rating and issued a $9.50 price target (down previously from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. Barclays lifted their price objective on Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Rosenblatt Securities increased their target price on shares of Marathon Digital from $17.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Finally, HC Wainwright restated a "buy" rating and set a $28.00 price target on shares of Marathon Digital in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $20.94.

Marathon Digital Price Performance

The business has a 50-day moving average of $15.55 and a 200 day moving average of $15.39. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $6.68 billion, a P/E ratio of -13.09 and a beta of 6.53.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) 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 firm had revenue of $213.88 million for the quarter, compared to the consensus estimate of $234.19 million. During the same quarter in the prior year, the firm earned $1.26 EPS. The company's revenue was up 29.5% compared to the same quarter last year. On average, sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Marathon Digital news, Director Douglas K. Mellinger sold 3,000 shares of Marathon Digital stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $16.00, for a total transaction of $48,000.00. Following the completion of the transaction, the director owned 176,859 shares in the company, valued at approximately $2,829,744. The trade was a 1.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 34,733 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $15.85, for a total value of $550,518.05. Following the completion of 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 199,853 shares of company stock worth $3,072,049. Insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Marathon Digital

Several institutional investors have recently bought and sold shares of MARA. Exchange Traded Concepts LLC boosted its holdings in Marathon Digital by 7.7% during the 2nd quarter. Exchange Traded Concepts LLC now owns 1,173,211 shares of the business services provider's stock worth $18,396,000 after acquiring an additional 83,649 shares during the last quarter. Fiduciary Alliance LLC lifted its position in shares of Marathon Digital by 26.9% during the second quarter. Fiduciary Alliance LLC now owns 72,735 shares of the business services provider's stock valued at $1,140,000 after purchasing an additional 15,426 shares in the last quarter. Strategic Advocates LLC boosted its holdings in Marathon Digital by 7.8% during the second quarter. Strategic Advocates LLC now owns 16,025 shares of the business services provider's stock worth $251,000 after purchasing an additional 1,163 shares during the last quarter. Rhumbline Advisers grew its position in Marathon Digital by 10.0% in the 1st quarter. Rhumbline Advisers now owns 917,299 shares of the business services provider's stock worth $10,549,000 after purchasing an additional 83,242 shares in the last quarter. Finally, Strs Ohio purchased a new stake in Marathon Digital in the 1st quarter valued at about $363,000. Institutional investors 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.