Marathon Digital (NASDAQ:MARA) Shares Up 6.2% - Still a Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price rose 6.2% during mid-day trading on Wednesday . The company traded as high as $20.19 and last traded at $19.93. Approximately 19,006,088 shares traded hands during trading, a decline of 55% from the average daily volume of 41,776,313 shares. The stock had previously closed at $18.76.

Wall Street Analysts Forecast Growth

MARA has been the topic of a number of research analyst reports. Compass Point reaffirmed a "sell" rating and set a $9.50 target price (down from $25.00) on shares of Marathon Digital in a report on Tuesday, May 6th. HC Wainwright reiterated a "buy" rating and issued a $28.00 price target on shares of Marathon Digital in a research report on Thursday, April 24th. Piper Sandler decreased their price target 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. Rosenblatt Securities increased their price target on Marathon Digital from $17.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Finally, Barclays increased their price target on Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued 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 Price Performance

The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of -13.43 and a beta of 6.53. 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 stock has a 50-day simple moving average of $16.12 and a 200 day simple moving average of $15.40.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.06). Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The business had revenue of $213.88 million for the quarter, compared to analyst estimates of $234.19 million. During the same quarter in the previous year, the business posted $1.26 earnings per share. The company's revenue was up 29.5% compared to the same quarter last year. On average, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,732 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $19.05, for a total transaction of $661,644.60. Following the completion of the sale, the chief financial officer directly owned 324,572 shares in the company, valued at approximately $6,183,096.60. This trade represents a 9.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $15.30, for a total value of $420,826.50. Following the sale, the chief executive officer directly owned 3,983,593 shares of the company's stock, valued at $60,948,972.90. This trade represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 234,585 shares of company stock worth $3,733,694. 0.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marathon Digital

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Marathon Digital by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider's stock worth $457,832,000 after purchasing an additional 1,028,512 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Marathon Digital by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 7,675,994 shares of the business services provider's stock worth $128,755,000 after purchasing an additional 518,503 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Marathon Digital by 55.7% during the 1st quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider's stock worth $72,334,000 after purchasing an additional 2,250,082 shares in the last quarter. Northern Trust Corp raised its stake in shares of Marathon Digital by 7.2% during the 1st quarter. Northern Trust Corp now owns 3,529,782 shares of the business services provider's stock worth $40,592,000 after purchasing an additional 236,251 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Marathon Digital by 9.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,322,618 shares of the business services provider's stock worth $38,210,000 after purchasing an additional 294,161 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.