Marathon Digital Holdings, Inc. (NASDAQ:MARA) Short Interest Update

Key Points

• Short Interest Surge: Marathon Digital Holdings, Inc. experienced a 26.0% increase in short interest in July, totaling 106.12 million shares, indicating heightened bearish sentiment among investors.
• Strong Quarterly Earnings: The company reported earnings of $1.84 per share for the quarter, significantly surpassing analyst expectations of a loss and marking a 64.0% revenue increase year-over-year.
• Positive Analyst Ratings: Multiple research analysts have reaffirmed buy ratings for Marathon Digital, with price targets ranging from $20.00 to $39.00, showing overall confidence in its future performance.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 106,120,000 shares, agrowthof26.0% from the July 15th total of 84,210,000 shares. Currently,28.9% of the shares of the stock are short sold. Based on an average daily volume of 47,220,000 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily volume of 47,220,000 shares, the days-to-cover ratio is currently 2.2 days. Currently,28.9% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MARA shares. Cantor Fitzgerald raised their price target 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 target price for the stock from $19.00 to $22.00 in a report on Monday, July 28th. HC Wainwright reissued a "buy" rating and set a $28.00 price target on shares of Marathon Digital in a research note on Thursday, April 24th. Barclays raised their price target on Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 target price on shares of Marathon Digital in a research report on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $24.22.

Marathon Digital Stock Up 5.0%

Shares of MARA traded up $0.78 during trading hours on Friday, hitting $16.29. The company had a trading volume of 79,001,296 shares, compared to its average volume of 42,415,531. The company has a market capitalization of $6.03 billion, a PE ratio of 14.68 and a beta of 6.24. 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 one year low of $9.81 and a one year high of $30.28. The company's fifty day moving average price is $16.55 and its two-hundred day moving average price is $15.03.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, topping the consensus estimate of ($0.29) by $2.13. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The firm had revenue of $238.50 million for the quarter, compared to the consensus estimate of $212.25 million. During the same period in the previous year, the business earned ($0.72) EPS. The firm's revenue for the quarter was up 64.0% on a year-over-year basis. As a group, equities analysts forecast that Marathon Digital will post -1.04 earnings per share for the current fiscal year.

Insider Activity at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $15.28, for a total transaction of $420,276.40. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $15.73, for a total value of $546,334.36. Following the sale, the chief financial officer directly owned 353,160 shares in the company, valued at $5,555,206.80. This trade represents a 8.95% 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 worth $3,186,128 in the last three months. 0.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MARA. Park Square Financial Group LLC purchased a new position in Marathon Digital during the 4th quarter worth $27,000. Fifth Third Bancorp boosted its stake in shares of Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock worth $29,000 after buying an additional 683 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Marathon Digital by 358.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock worth $31,000 after buying an additional 1,426 shares during the last quarter. Estabrook Capital Management purchased a new stake in shares of Marathon Digital in the second quarter worth about $31,000. Finally, IFP Advisors Inc boosted its stake in shares of Marathon Digital by 375.4% in the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock worth $40,000 after buying an additional 2,001 shares during the last quarter. 44.53% of the stock is currently 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.