Marathon Digital (NASDAQ:MARA) Trading 1.3% Higher - Time to Buy?

Key Points

• Marathon Digital shares rose 1.3% in Wednesday trading, touching an intraday high of $12.85 before closing around $12.41. Trading volume was slightly below average, with 42.4 million shares changing hands.
• Wall Street sentiment remains generally positive: the stock carries a Moderate Buy consensus rating and a consensus price target of $18.50. Recent analyst targets ranged from $10 to $27, with several firms maintaining or raising bullish calls.
• Insiders have been selling shares, including the general counsel and CFO, while institutional ownership remains significant at 44.53%. The company also carries a high beta of 5.36, highlighting elevated volatility.

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) traded up 1.3% during mid-day trading on Wednesday . The company traded as high as $12.85 and last traded at $12.41. 42,417,906 shares traded hands during trading, a decline of 8% from the average session volume of 45,953,961 shares. The stock had previously closed at $12.25.

Analysts Set New Price Targets

MARA has been the topic of several research reports. BTIG Research reaffirmed a "buy" rating and set a $27.00 price objective on shares of Marathon Digital in a report on Monday, June 1st. Rosenblatt Securities raised their price target on Marathon Digital from $11.00 to $15.00 and gave the company a "buy" rating in a report on Friday, May 1st. Weiss Ratings cut Marathon Digital from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, May 12th. Citizens Jmp initiated coverage on shares of Marathon Digital in a research report on Wednesday, June 24th. They set a "market outperform" rating and a $24.00 target price on the stock. Finally, Cantor Fitzgerald lowered their price target on shares of Marathon Digital from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Marathon Digital presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.50.

Marathon Digital Stock Up 1.3%

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of -2.17 and a beta of 5.36. The firm has a 50 day simple moving average of $13.32 and a two-hundred day simple moving average of $10.94.

Insider Activity

In other Marathon Digital news, General Counsel Zabi Nowaid sold 7,000 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total value of $99,750.00. Following the sale, the general counsel directly owned 963,768 shares in the company, valued at approximately $13,733,694. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Hassan Khan sold 16,000 shares of the business's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total transaction of $228,000.00. Following the completion of the transaction, the chief financial officer directly owned 409,066 shares of the company's stock, valued at $5,829,190.50. This trade represents a 3.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 109,260 shares of company stock valued at $1,452,756. Insiders own 0.97% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ascentis Independent Advisors bought a new stake in shares of Marathon Digital in the first quarter worth about $28,000. Bogart Wealth LLC grew its position in shares of Marathon Digital by 4,345.1% in the 1st quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider's stock valued at $33,000 after purchasing an additional 3,954 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in Marathon Digital during the 4th quarter worth approximately $36,000. Hantz Financial Services Inc. raised its holdings in Marathon Digital by 344.8% during the 4th quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider's stock worth $45,000 after buying an additional 3,893 shares during the period. Finally, CoreCap Advisors LLC lifted its stake in Marathon Digital by 128.0% in the second quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider's stock valued at $51,000 after buying an additional 2,050 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.