Marathon Digital (NASDAQ:MARA) Stock Price Up 15.7% - Time to Buy?

Key Points

• Marathon Digital's stock price rose by 15.7%, with shares trading at approximately $18.66 after reaching a high of $18.73.
• Analyst ratings are generally positive, with several firms maintaining a "buy" rating and price targets ranging from $20.00 to $27.00, leading to a consensus target price of $24.30.
• The company reported earnings of $1.84 per share for its last quarter, significantly beating expectations and showing a 64% increase in revenue year-over-year.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price traded up 15.7% during trading on Monday . The company traded as high as $18.73 and last traded at $18.66. 103,915,145 shares changed hands during trading, an increase of 126% from the average session volume of 45,892,129 shares. The stock had previously closed at $16.13.

Analyst Upgrades and Downgrades

MARA has been the topic of several recent analyst reports. BTIG Research reiterated a "buy" rating and set a $27.00 target price on shares of Marathon Digital in a research note on Friday, September 5th. Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 price target on shares of Marathon Digital in a report on Wednesday, July 30th. Piper Sandler increased their price objective on shares of Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. cut their target price on shares of Marathon Digital from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Macquarie raised their price target on Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Marathon Digital has a consensus rating of "Moderate Buy" and a consensus target price of $24.30.

Marathon Digital Stock Up 15.7%

The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $6.91 billion, a P/E ratio of 16.81 and a beta of 6.36. The company has a fifty day moving average price of $16.38 and a 200-day moving average price of $15.27.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, beating the consensus estimate of ($0.29) by $2.13. The business had revenue of $238.50 million during the quarter, compared to analysts' expectations of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The firm's revenue for the quarter was up 64.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.72) EPS. As a group, research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Activity

In related news, Director Vicki Mealer-Burke sold 14,887 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $15.22, for a total value of $226,580.14. Following the sale, the director directly owned 58,103 shares of the company's stock, valued at $884,327.66. This represents a 20.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $17.38, for a total transaction of $478,036.90. Following the completion of the sale, the chief executive officer directly owned 3,755,789 shares of the company's stock, valued at approximately $65,275,612.82. The trade was a 0.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 204,598 shares of company stock valued at $3,483,548 in the last ninety days. Insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On Marathon Digital

A number of large investors have recently bought and sold shares of MARA. Corient Private Wealth LLC purchased a new position in shares of Marathon Digital during the second quarter worth approximately $323,000. WT Wealth Management raised its holdings in shares of Marathon Digital by 25.9% in the second quarter. WT Wealth Management now owns 15,269 shares of the business services provider's stock valued at $239,000 after acquiring an additional 3,143 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Marathon Digital by 38.6% in the second quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider's stock worth $76,000 after acquiring an additional 1,340 shares during the period. Total Investment Management Inc. bought a new position in Marathon Digital during the 2nd quarter worth about $151,000. Finally, Thrivent Financial for Lutherans increased its position 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 valued at $4,058,000 after purchasing an additional 9,495 shares during the period. Hedge funds and other institutional investors 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.

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