Marathon Digital (NASDAQ:MARA) Trading 2.7% Higher - Time to Buy?

Key Points

• Marathon Digital's share price increased by 2.7% to $16.37, with a trading volume significantly lower than average at approximately 15.5 million shares.
• Research firms have issued optimistic ratings for Marathon Digital, with several raising their price targets, leading to a consensus price target of $24.50 and a rating of "Moderate Buy."
• The company reported a substantial earnings beat with $1.84 EPS for the quarter, exceeding estimates and showing a 64% year-over-year revenue growth to $238.5 million.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price was up 2.7% on Wednesday . The stock traded as high as $16.42 and last traded at $16.37. Approximately 15,530,348 shares were traded during trading, a decline of 64% from the average daily volume of 43,248,000 shares. The stock had previously closed at $15.93.

Analyst Ratings Changes

Several research firms have recently weighed in on MARA. Cantor Fitzgerald raised their price objective on shares of Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 price target on shares of Marathon Digital in a report on Wednesday, July 30th. Compass Point upgraded Marathon Digital from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $9.50 to $18.00 in a research report on Friday, July 25th. Piper Sandler increased their target price on Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Finally, Macquarie raised their target price on Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.50.

Marathon Digital Stock Performance

The firm has a market cap of $5.87 billion, a P/E ratio of 14.26 and a beta of 6.35. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average of $16.76 and a 200-day moving average of $14.96.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $2.13. The company had revenue of $238.50 million for the quarter, compared to analyst estimates of $212.25 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The company's revenue for the quarter was up 64.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.72) EPS. Research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,732 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $15.73, for a total transaction of $546,334.36. Following the completion of the sale, the chief financial officer owned 353,160 shares in the company, valued at approximately $5,555,206.80. The trade was a 8.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $15.28, for a total value of $420,276.40. Following the completion of the transaction, the chief executive officer owned 3,810,799 shares in the company, valued at $58,229,008.72. This represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,712 shares of company stock valued at $3,170,128 in the last ninety days. Company insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Park Square Financial Group LLC bought a new stake in Marathon Digital in the fourth quarter valued at approximately $27,000. Fifth Third Bancorp raised its stake in Marathon Digital by 59.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock worth $29,000 after buying an additional 683 shares during the period. Estabrook Capital Management bought a new position in Marathon Digital during the second quarter worth about $31,000. IFP Advisors Inc grew its stake in Marathon Digital by 375.4% in the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock valued at $40,000 after acquiring an additional 2,001 shares during the period. Finally, CX Institutional bought a new stake in shares of Marathon Digital in the first quarter worth about $68,000. 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.

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