Marathon Digital (NASDAQ:MARA) Stock Price Up 2.2% – Time to Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares traded up 2.2% during mid-day trading on Friday . The stock traded as high as $14.64 and last traded at $14.38. 47,477,035 shares were traded during mid-day trading, an increase of 3% from the average session volume of 46,211,234 shares. The stock had previously closed at $14.07.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MARA. Cantor Fitzgerald dropped their target price on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. HC Wainwright reaffirmed a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Weiss Ratings cut Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Rosenblatt Securities lifted their price objective on Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Finally, Morgan Stanley decreased their price objective on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday, May 19th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Marathon Digital presently has an average rating of “Hold” and an average target price of $18.38.

Marathon Digital Stock Up 2.2%

The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. The firm has a 50 day simple moving average of $11.02 and a 200-day simple moving average of $10.39. The stock has a market cap of $5.48 billion, a P/E ratio of -2.51 and a beta of 5.41.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($4.29). The firm had revenue of $202.31 million for the quarter, compared to the consensus estimate of $250.74 million. Marathon Digital had a negative return on equity of 23.20% and a negative net margin of 234.83%.Marathon Digital’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the business posted $1.24 EPS. On average, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -1.67 earnings per share for the current fiscal year.

Insider Transactions at Marathon Digital

In other news, General Counsel Zabi Nowaid sold 42,090 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $12.00, for a total transaction of $505,080.00. Following the transaction, the general counsel owned 1,007,047 shares in the company, valued at approximately $12,084,564. This trade represents a 4.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $9.18, for a total value of $252,495.90. Following the transaction, the chief executive officer owned 4,788,954 shares in the company, valued at approximately $43,962,597.72. This trade represents a 0.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 180,855 shares of company stock worth $2,033,654. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Marathon Digital

A number of large investors have recently made changes to their positions in the company. Essential Partners LLC increased its stake in Marathon Digital by 288,266.7% during the 1st quarter. Essential Partners LLC now owns 8,651 shares of the business services provider’s stock worth $71,000 after acquiring an additional 8,648 shares during the period. Western Wealth Management LLC increased its stake in Marathon Digital by 26.1% during the 1st quarter. Western Wealth Management LLC now owns 27,140 shares of the business services provider’s stock worth $221,000 after acquiring an additional 5,610 shares during the period. Edgestream Partners L.P. bought a new position in Marathon Digital during the 1st quarter worth $2,864,000. Amundi increased its stake in Marathon Digital by 124.2% during the 1st quarter. Amundi now owns 53,425 shares of the business services provider’s stock worth $436,000 after acquiring an additional 29,595 shares during the period. Finally, California State Teachers Retirement System increased its stake in Marathon Digital by 23.7% during the 1st quarter. California State Teachers Retirement System now owns 412,052 shares of the business services provider’s stock worth $3,362,000 after acquiring an additional 78,842 shares during the period. Institutional investors own 44.53% of the company’s stock.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.