Marathon Digital (NASDAQ:MARA) Stock Price Up 2.3% - Still a Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares rose 2.3% during trading on Monday . The stock traded as high as $15.41 and last traded at $15.38. Approximately 9,246,345 shares traded hands during trading, a decline of 77% from the average daily volume of 40,979,547 shares. The stock had previously closed at $15.03.

Analyst Ratings Changes

Several equities research analysts have weighed in on MARA shares. Rosenblatt Securities raised their price target on Marathon Digital from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Compass Point reaffirmed a "sell" rating and issued a $9.50 price objective (down from $25.00) on shares of Marathon Digital in a report on Tuesday, May 6th. Barclays boosted their target price on shares of Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. HC Wainwright reaffirmed a "buy" rating and set a $28.00 target price on shares of Marathon Digital in a report on Thursday, April 24th. Finally, 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 report on Monday, May 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $20.94.

Marathon Digital Price Performance

The stock has a 50-day moving average price of $14.92 and a 200 day moving average price of $15.58. The firm has a market capitalization of $5.47 billion, a PE ratio of -10.72 and a beta of 6.61. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.62.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.06). The company had revenue of $213.88 million for the quarter, compared to analysts' expectations of $234.19 million. Marathon Digital had a negative net margin of 46.68% and a positive return on equity of 6.33%. The business's revenue for the quarter was up 29.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 earnings per share. Equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Transactions at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 33,400 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $15.00, for a total transaction of $501,000.00. Following the transaction, the chief financial officer now owns 1,680,971 shares of the company's stock, valued at approximately $25,214,565. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 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 transaction, the director now owns 176,859 shares in the company, valued at approximately $2,829,744. This represents a 1.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,853 shares of company stock valued at $3,054,629 over the last ninety days. Insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Marathon Digital

Hedge funds have recently modified their holdings of the company. United Services Automobile Association increased its holdings 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 buying an additional 635 shares during the last quarter. Ranch Capital Advisors Inc. lifted its stake in shares of Marathon Digital by 5.8% in 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 grew its holdings in shares of Marathon Digital by 5.1% during the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock worth $304,000 after purchasing an additional 878 shares during the period. Integrated Wealth Concepts LLC increased its position in shares of 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 worth $127,000 after purchasing an additional 991 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its position in Marathon Digital by 7.3% in the fourth quarter. CoreCap Advisors LLC now owns 14,541 shares of the business services provider's stock valued at $244,000 after buying an additional 992 shares during the last quarter. Hedge funds and other 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.

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