Marathon Digital (NASDAQ:MARA) Trading Down 3.5% - What's Next?

Key Points

• Marathon Digital Holdings saw its stock price decline by 3.5% to $15.39, with trading volume significantly reduced to 7.9 million shares, down 81% from the average.
• Analysts remain optimistic, with several raising their price targets, including Barclays, Cantor Fitzgerald, and JPMorgan, resulting in an average target price of $24.22 and a consensus rating of "Moderate Buy."
• In its recent quarterly earnings report, Marathon Digital reported earnings of $1.84 per share, exceeding estimates, and a revenue increase of 64% year-over-year, reaching $238.5 million.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares traded down 3.5% during trading on Friday . The stock traded as low as $15.49 and last traded at $15.39. 7,915,562 shares changed hands during trading, a decline of 81% from the average session volume of 42,136,977 shares. The stock had previously closed at $15.95.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays raised their price target on shares of Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Cantor Fitzgerald boosted their target price on Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. JPMorgan Chase & Co. upgraded Marathon Digital from a "neutral" rating to an "overweight" rating and raised their price target for the company from $19.00 to $22.00 in a report on Monday, July 28th. Macquarie lifted their price objective on Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Rosenblatt Securities restated a "buy" rating and set a $20.00 target price on shares of Marathon Digital in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.22.

Marathon Digital Stock Down 2.3%

The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 14.05 and a beta of 6.24. The business's 50-day moving average is $16.53 and its two-hundred day moving average is $15.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly 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 during 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 firm's revenue was up 64.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.72) EPS. On average, equities analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Activity

In other news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital 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 transaction, the chief executive officer owned 3,946,504 shares in the company, valued at $77,035,758.08. The trade was a 0.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $19.05, for a total value of $661,644.60. Following the sale, the chief financial officer directly owned 324,572 shares of the company's stock, valued at approximately $6,183,096.60. The trade was a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 170,680 shares of company stock valued at $2,896,441 over the last 90 days. Corporate insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Marathon Digital

Institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its position in shares of Marathon Digital by 55.7% during the first quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider's stock worth $72,334,000 after buying an additional 2,250,082 shares during the period. Westfield Capital Management Co. LP bought a new stake in Marathon Digital in the 1st quarter valued at approximately $14,810,000. Price T Rowe Associates Inc. MD grew its stake in shares of Marathon Digital by 192.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,897,200 shares of the business services provider's stock worth $31,817,000 after acquiring an additional 1,248,292 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Marathon Digital by 2.7% during the first 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 during the last quarter. Finally, Nuveen LLC bought a new position in shares of Marathon Digital in the 1st quarter valued at about $11,514,000. 44.53% of the stock is owned by institutional investors.

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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