Marathon Digital (NASDAQ:MARA) Stock Price Up 3.9% - Should You Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) shot up 3.9% on Tuesday . The stock traded as high as $17.67 and last traded at $17.40. 13,091,791 shares changed 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.

Analysts Set New Price Targets

MARA has been the subject of several recent analyst reports. HC Wainwright restated a "buy" rating and set a $28.00 target price on shares of Marathon Digital in a research report on Thursday, April 24th. Rosenblatt Securities boosted their target price on Marathon Digital from $17.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. boosted their target price on Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. Piper Sandler dropped their target price on Marathon Digital from $30.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, Compass Point restated a "sell" rating and set a $9.50 target price (down previously from $25.00) on shares of Marathon Digital in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $20.94.

Marathon Digital Stock Up 0.3%

The company has a debt-to-equity ratio of 0.62, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $6.71 billion, a PE ratio of -13.18 and a beta of 6.53. The business has a fifty day moving average of $15.55 and a 200-day moving average of $15.39.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.06). The firm had revenue of $213.88 million during 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 firm's revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 EPS. Equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In other Marathon Digital news, Director Douglas K. Mellinger sold 3,000 shares of the company's stock in a transaction on 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 sale, the director owned 176,859 shares in the company, valued at $2,829,744. This represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Salman Hassan Khan sold 34,733 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $15.85, for a total value of $550,518.05. Following the sale, the chief financial officer owned 1,413,298 shares of the company's stock, valued at approximately $22,400,773.30. This represents a 2.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 199,853 shares of company stock worth $3,072,049 over the last 90 days. Company insiders own 0.80% of the company's stock.

Institutional Trading of Marathon Digital

Hedge funds have recently bought and sold shares of the stock. US Bancorp DE increased its position in shares of Marathon Digital by 73.3% during the fourth quarter. US Bancorp DE now owns 3,559 shares of the business services provider's stock worth $60,000 after purchasing an additional 1,505 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Marathon Digital by 55.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,845 shares of the business services provider's stock worth $266,000 after purchasing an additional 5,625 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Marathon Digital by 14.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,028,457 shares of the business services provider's stock worth $50,787,000 after purchasing an additional 372,094 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Marathon Digital by 16.5% during the fourth quarter. Victory Capital Management Inc. now owns 67,654 shares of the business services provider's stock worth $1,135,000 after purchasing an additional 9,562 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Marathon Digital by 16.9% during the fourth quarter. M&T Bank Corp now owns 22,881 shares of the business services provider's stock worth $384,000 after purchasing an additional 3,310 shares in the last quarter. 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.