Marathon Digital (NASDAQ:MARA) Trading Down 3.7% - What's Next?

Key Points

• Marathon Digital Holdings, Inc. shares have fallen 3.7%, trading at $15.30, with a significant drop in transaction volume compared to its average.
• Analysts have raised their price targets for Marathon Digital, with Cantor Fitzgerald increasing it to $39.00, indicating a positive outlook for the stock.
• Marathon Digital reported a record EPS of $1.84 for the last quarter, significantly exceeding expectations, with revenue growth of 64% year-over-year.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares traded down 3.7% during trading on Thursday . The company traded as low as $15.24 and last traded at $15.30. 11,718,285 shares changed hands during trading, a decline of 73% from the average session volume of 42,797,609 shares. The stock had previously closed at $15.89.

Analysts Set New Price Targets

MARA has been the subject of several recent analyst reports. Cantor Fitzgerald upped their target price on Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a report on Monday, July 28th. JPMorgan Chase & Co. upgraded Marathon Digital from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $19.00 to $22.00 in a report on Monday, July 28th. Compass Point upgraded Marathon Digital from a "sell" rating to a "neutral" rating and upped their target price for the stock from $9.50 to $18.00 in a report on Friday, July 25th. Piper Sandler raised their price target on shares of Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Finally, Barclays raised their target price on Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $24.22.

Marathon Digital Stock Down 4.9%

The company's 50 day moving average price is $16.76 and its two-hundred day moving average price is $14.97. 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 stock has a market cap of $5.60 billion, a P/E ratio of 13.61 and a beta of 6.35.

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, topping analysts' consensus estimates of ($0.29) by $2.13. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The company had revenue of $238.50 million during the quarter, compared to the consensus estimate of $212.25 million. During the same quarter in the previous year, the firm posted ($0.72) earnings per share. Marathon Digital's revenue for the quarter was up 64.0% compared to the same quarter last year. As a group, research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 34,732 shares of the business'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 sale, the chief financial officer directly owned 353,160 shares of the company's stock, valued at $5,555,206.80. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $15.28, for a total transaction of $420,276.40. Following the completion of the transaction, the chief executive officer owned 3,810,799 shares of the company's stock, valued at approximately $58,229,008.72. This trade represents a 0.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,712 shares of company stock worth $3,186,128 over the last three months. Corporate insiders own 0.80% of the company's stock.

Institutional Trading of Marathon Digital

Several large investors have recently bought and sold shares of MARA. Osaic Holdings Inc. grew its stake in shares of Marathon Digital by 38.6% in the 2nd quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider's stock valued at $76,000 after buying an additional 1,340 shares during the period. Total Investment Management Inc. purchased a new stake in shares of Marathon Digital in the 2nd quarter valued at approximately $151,000. Thrivent Financial for Lutherans grew its stake in shares of Marathon Digital by 3.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 258,778 shares of the business services provider's stock valued at $4,058,000 after buying an additional 9,495 shares during the period. Newbridge Financial Services Group Inc. grew its stake in shares of Marathon Digital by 92.3% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 47,915 shares of the business services provider's stock valued at $751,000 after buying an additional 23,000 shares during the period. Finally, Marex Group plc purchased a new stake in shares of Marathon Digital in the 2nd quarter valued at approximately $84,301,000. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.