Marathon Digital (NASDAQ:MARA) Stock Price Up 3.9% - Here's Why

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price traded up 3.9% during trading on Tuesday . The company traded as high as $17.67 and last traded at $17.40. 13,091,791 shares traded hands during trading, a decline of 68% from the average session volume of 41,322,355 shares. The stock had previously closed at $16.75.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MARA. Rosenblatt Securities boosted their price target on Marathon Digital from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Barclays increased 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. Compass Point restated a "sell" rating and set a $9.50 price target (down from $25.00) on shares of Marathon Digital in a research report on Tuesday, May 6th. JPMorgan Chase & Co. upped their price objective 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. Finally, Piper Sandler cut their price target on shares of Marathon Digital from $30.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $20.94.

Marathon Digital Price Performance

The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of -11.98 and a beta of 6.53. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average of $15.29 and a 200-day moving average of $15.36.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced 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 company 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 business earned $1.26 earnings per share. Marathon Digital's revenue was up 29.5% compared to the same quarter last year. On average, equities research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, CEO Frederick G. Thiel sold 55,010 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $15.00, for a total transaction of $825,150.00. Following the completion of the sale, the chief executive officer directly owned 4,146,804 shares of the company's stock, valued at approximately $62,202,060. This trade represents a 1.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 34,733 shares of Marathon Digital 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 trade represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,853 shares of company stock worth $3,054,629. 0.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Marathon Digital

Hedge funds have recently modified their holdings of the stock. Rhumbline Advisers raised its position in Marathon Digital by 10.0% during the 1st quarter. Rhumbline Advisers now owns 917,299 shares of the business services provider's stock worth $10,549,000 after buying an additional 83,242 shares during the last quarter. Strs Ohio acquired a new position in shares of Marathon Digital during the first quarter worth about $363,000. Intech Investment Management LLC raised its holdings in Marathon Digital by 14.5% during the first quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider's stock worth $1,848,000 after purchasing an additional 20,413 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Marathon Digital by 11.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider's stock valued at $7,398,000 after purchasing an additional 63,903 shares during the period. Finally, United Services Automobile Association boosted its holdings in Marathon Digital by 8.2% in the 1st quarter. United Services Automobile Association now owns 20,634 shares of the business services provider's stock valued at $257,000 after purchasing an additional 1,569 shares in the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

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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