Marathon Digital (NASDAQ:MARA) Stock Price Up 1.3% - Should You Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price shot up 1.3% during mid-day trading on Wednesday . The company traded as high as $15.41 and last traded at $15.07. 15,150,427 shares were traded during trading, a decline of 66% from the average session volume of 45,035,437 shares. The stock had previously closed at $14.88.

Analyst Ratings Changes

MARA has been the subject of several analyst reports. Needham & Company LLC restated a "hold" rating on shares of Marathon Digital in a research report on Thursday, February 27th. Barclays lifted their price objective on shares of Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. HC Wainwright restated a "buy" rating and set a $28.00 target price on shares of Marathon Digital in a research note on Thursday, April 24th. Compass Point reaffirmed a "sell" rating and issued a $9.50 target price (down previously from $25.00) on shares of Marathon Digital in a report on Tuesday, May 6th. Finally, Rosenblatt Securities boosted 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. One 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. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $20.94.

Marathon Digital Stock Up 0.7%

The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $5.27 billion, a P/E ratio of -10.33 and a beta of 6.61. The stock has a 50 day moving average price of $14.82 and a 200 day moving average price of $15.80.

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

Insider Transactions at Marathon Digital

In related news, CEO Frederick G. Thiel sold 55,010 shares of Marathon Digital stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $15.00, for a total value of $825,150.00. Following the transaction, the chief executive officer now directly owns 4,146,804 shares of the company's stock, valued at $62,202,060. The trade was a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 34,733 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $15.85, for a total transaction of $550,518.05. Following the sale, the chief financial officer now directly owns 1,413,298 shares of the company's stock, valued at $22,400,773.30. This represents a 2.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,853 shares of company stock worth $3,054,629. Company insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Marathon Digital

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

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.