Marathon Digital (NASDAQ:MARA) Trading Up 5.8% - Should You Buy?

Key Points

• Marathon Digital Holdings stock rose by 5.8%, trading at $16.41, with a significant drop in daily trading volume at 14.1 million shares.
• Research firms have upgraded Marathon Digital's stock ratings, with target prices now ranging from $18.00 to $39.00, indicating strong market confidence.
• The company reported an earnings per share (EPS) of $1.84, significantly exceeding the consensus estimate, along with a 64% year-over-year revenue growth.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) was up 5.8% during mid-day trading on Friday . The company traded as high as $16.48 and last traded at $16.41. Approximately 14,121,349 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 42,001,730 shares. The stock had previously closed at $15.51.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MARA. Compass Point raised shares of Marathon Digital from a "sell" rating to a "neutral" rating and raised their target price for the company from $9.50 to $18.00 in a research note on Friday, July 25th. Cantor Fitzgerald raised their target price on shares of Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Macquarie raised their target price on shares of Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. raised shares of Marathon Digital from a "neutral" rating to an "overweight" rating and raised their target price for the company from $19.00 to $22.00 in a research note on Monday, July 28th. Finally, Barclays raised their target price on shares of Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.22.

Marathon Digital Stock Up 5.0%

The company's fifty day moving average price is $16.55 and its 200-day moving average price is $15.03. The stock has a market cap of $6.03 billion, a P/E ratio of 14.68 and a beta of 6.24. 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 released its earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $238.50 million during the quarter, compared to analyst estimates of $212.25 million. During the same quarter last year, the business earned ($0.72) EPS. The business's revenue was up 64.0% on a year-over-year basis. Equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Transactions at Marathon Digital

In related news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction dated 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 $5,555,206.80. This trade represents a 8.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $15.28, for a total transaction of $420,276.40. Following the transaction, the chief executive officer directly owned 3,810,799 shares in the company, valued at $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 a total of 189,712 shares of company stock valued at $3,186,128 in the last quarter. 0.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in shares of Marathon Digital in the 4th quarter worth approximately $1,408,000. Sterling Capital Management LLC lifted its stake in shares of Marathon Digital by 358.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock valued at $31,000 after purchasing an additional 1,426 shares during the period. Rockefeller Capital Management L.P. acquired a new position in Marathon Digital during the fourth quarter worth $311,000. NewEdge Advisors LLC raised its position in Marathon Digital by 28.9% during the fourth quarter. NewEdge Advisors LLC now owns 4,640 shares of the business services provider's stock worth $78,000 after acquiring an additional 1,040 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Marathon Digital in the fourth quarter valued at about $4,209,000. 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.

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