Marathon Digital Sees Unusually Large Options Volume (NASDAQ:MARA)

Key Points

• Marathon Digital Holdings experienced a significant increase in call options trading, with 469,043 options acquired, marking a 36% rise compared to the average daily volume.
• Several analysts have set new price targets for the stock, with a consensus rating of "Moderate Buy" and a target price of $24.30 following mixed ratings—from $18.00 to $27.00.
• The company's quarterly earnings report showed earnings per share of $1.84, significantly beating analysts' estimates, and a revenue increase of 64% compared to the previous year.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) was the target of some unusual options trading on Friday. Stock investors acquired 469,043 call options on the company. This is an increase of 36% compared to the average daily volume of 345,078 call options.

Analysts Set New Price Targets

Several analysts have commented on MARA shares. BTIG Research reaffirmed a "buy" rating and set a $27.00 price objective on shares of Marathon Digital in a research note on Friday, September 5th. Compass Point assumed coverage on Marathon Digital in a research note on Monday, September 15th. They set a "neutral" rating and a $18.00 price objective for the company. Macquarie increased their target price on Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Piper Sandler upped their price objective on Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. cut their target price on Marathon Digital from $22.00 to $20.00 and set an "overweight" rating on the stock in a research report on Friday, September 26th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.30.

Marathon Digital Stock Performance

NASDAQ MARA traded up $0.03 during trading hours on Friday, reaching $18.82. The company's stock had a trading volume of 50,522,446 shares, compared to its average volume of 46,128,285. The business has a 50-day simple moving average of $16.39 and a 200 day simple moving average of $15.39. The stock has a market cap of $6.97 billion, a PE ratio of 16.95 and a beta of 6.33. 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 has a 52 week low of $9.81 and a 52 week high of $30.28.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $2.13. The company had revenue of $238.50 million for the quarter, compared to analysts' expectations of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The business's revenue for the quarter was up 64.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.72) earnings per share. Equities research analysts predict that Marathon Digital will post -1.04 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Salman Hassan Khan sold 34,732 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $16.24, for a total value of $564,047.68. Following the completion of the sale, the chief financial officer directly owned 318,428 shares of the company's stock, valued at approximately $5,171,270.72. The trade was a 9.83% 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 business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $17.38, for a total value of $478,036.90. Following the completion of the sale, the chief executive officer directly owned 3,755,789 shares of the company's stock, valued at $65,275,612.82. The trade was a 0.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 204,598 shares of company stock valued at $3,483,548. 0.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marathon Digital

A number of large investors have recently bought and sold shares of the business. Mackenzie Financial Corp lifted its position in Marathon Digital by 5.1% during the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock worth $304,000 after acquiring an additional 878 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Marathon Digital by 708.0% during the first quarter. GAMMA Investing LLC now owns 103,776 shares of the business services provider's stock worth $1,193,000 after purchasing an additional 90,932 shares in the last quarter. Rhumbline Advisers increased its stake in Marathon Digital by 10.0% in the 1st quarter. Rhumbline Advisers now owns 917,299 shares of the business services provider's stock valued at $10,549,000 after buying an additional 83,242 shares during the last quarter. Thrive Wealth Management LLC acquired a new position in shares of Marathon Digital during the 1st quarter worth about $348,000. Finally, Evexia Wealth LLC boosted its holdings in shares of Marathon Digital by 16.7% during the 1st quarter. Evexia Wealth LLC now owns 15,908 shares of the business services provider's stock worth $196,000 after buying an additional 2,282 shares during the period. 44.53% of the stock is currently owned by 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.

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