Marathon Digital (NASDAQ:MARA) Trading 2.9% Higher - Still a Buy?

Key Points

• Marathon Digital Holdings' shares increased by 2.9% to $15.95, despite a significant decline in trading volume, down 78% from the average session.
• Analysts have upgraded Marathon Digital's stock ratings, with price targets raised as high as $28.00, reflecting a consensus rating of "Moderate Buy" and an average price target of $24.22.
• The company reported earnings of $1.84 EPS for the last quarter, exceeding expectations and marking a 64.0% year-over-year revenue increase.

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) traded up 2.9% during trading on Monday . The stock traded as high as $15.84 and last traded at $15.95. 9,421,411 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 42,571,672 shares. The stock had previously closed at $15.50.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Compass Point upgraded shares of Marathon Digital from a "sell" rating to a "neutral" rating and upped their price target for the company from $9.50 to $18.00 in a research report on Friday, July 25th. JPMorgan Chase & Co. upgraded shares of Marathon Digital from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $19.00 to $22.00 in a research report on Monday, July 28th. Piper Sandler upped their price objective on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Macquarie upped their price objective on shares of Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, HC Wainwright restated a "buy" rating and set a $28.00 price objective on shares of Marathon Digital in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.22.

Marathon Digital Stock Performance

The stock's 50 day moving average price is $16.47 and its two-hundred day moving average price is $15.31. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 14.45 and a beta of 6.24. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47.

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

Insider Activity at Marathon Digital

In other Marathon Digital news, Director Douglas K. Mellinger sold 3,000 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $16.00, for a total transaction of $48,000.00. Following the sale, the director directly owned 176,859 shares of the company's stock, valued at $2,829,744. This trade represents a 1.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $19.52, for a total transaction of $536,897.60. Following the sale, the chief executive officer directly owned 3,946,504 shares in the company, valued at $77,035,758.08. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 262,090 shares of company stock valued at $4,270,591. Insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Marathon Digital

Several hedge funds have recently modified their holdings of MARA. Park Square Financial Group LLC bought a new stake in shares of Marathon Digital in the fourth quarter worth $27,000. Fifth Third Bancorp raised its position in Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock worth $29,000 after acquiring an additional 683 shares in the last quarter. Sterling Capital Management LLC raised its position in Marathon Digital by 358.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock worth $31,000 after acquiring an additional 1,426 shares in the last quarter. IFP Advisors Inc raised its holdings in Marathon Digital by 375.4% during the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock worth $40,000 after buying an additional 2,001 shares during the period. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of Marathon Digital by 211.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,500 shares of the business services provider's stock valued at $64,000 after purchasing an additional 2,375 shares during the period. 44.53% of the stock is 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.

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