Marathon Digital (NASDAQ:MARA) Shares Up 2.5% - Still a Buy?

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) traded up 2.5% on Thursday . The stock traded as high as $20.09 and last traded at $19.92. 12,017,878 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 44,993,886 shares. The stock had previously closed at $19.44.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Marathon Digital from $30.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Barclays lifted their target price 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. 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. Compass Point reaffirmed a "sell" rating and set a $9.50 target price (down previously from $25.00) on shares of Marathon Digital in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Marathon Digital from $18.00 to $19.00 and gave the stock a "neutral" rating in a report on Friday, June 13th. One 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $20.94.

Marathon Digital Stock Down 2.8%

The firm's 50-day simple moving average is $16.12 and its 200 day simple moving average is $15.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $6.83 billion, a P/E ratio of -13.42 and a beta of 6.53.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings results 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 positive return on equity of 6.33% and a negative net margin of 46.68%. The business had revenue of $213.88 million for the quarter, compared to the consensus estimate of $234.19 million. During the same period last year, the firm earned $1.26 earnings per share. The company's quarterly revenue was up 29.5% compared to the same quarter last year. As a group, research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Activity

In other news, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $15.30, for a total value of $420,826.50. Following the sale, the chief executive officer directly owned 3,983,593 shares of the company's stock, valued at approximately $60,948,972.90. This represents a 0.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas K. Mellinger sold 3,000 shares of the company's stock in a transaction dated Friday, May 9th. The shares were 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. This trade represents a 1.67% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 234,585 shares of company stock valued at $3,733,694. 0.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Marathon Digital by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider's stock worth $457,832,000 after purchasing an additional 1,028,512 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Marathon Digital by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 7,675,994 shares of the business services provider's stock worth $128,755,000 after acquiring an additional 518,503 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Marathon Digital by 55.7% during the 1st quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider's stock worth $72,334,000 after acquiring an additional 2,250,082 shares in the last quarter. Northern Trust Corp boosted its position in shares of Marathon Digital by 7.2% during the 1st quarter. Northern Trust Corp now owns 3,529,782 shares of the business services provider's stock worth $40,592,000 after acquiring an additional 236,251 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Marathon Digital by 9.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,322,618 shares of the business services provider's stock worth $38,210,000 after acquiring an additional 294,161 shares in the last quarter. Institutional investors and hedge funds 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.