Marathon Digital (NASDAQ:MARA) Stock Price Up 1.7% – Still a Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares shot up 1.7% during trading on Tuesday . The company traded as high as $12.87 and last traded at $12.25. 42,052,103 shares changed hands during trading, a decline of 9% from the average session volume of 46,306,391 shares. The stock had previously closed at $12.05.

Analyst Upgrades and Downgrades

MARA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Weiss Ratings restated a “hold (c-)” rating on shares of Marathon Digital in a research report on Monday. Cantor Fitzgerald lowered their price target on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Compass Point upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Monday, November 24th. Finally, Rosenblatt Securities reduced their target price on Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Marathon Digital Trading Down 0.7%

The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of 6.58 and a beta of 5.42. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.09 and a current ratio of 2.09. The business has a fifty day moving average price of $15.76 and a 200 day moving average price of $16.19.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. The firm had revenue of $252.41 million during the quarter, compared to analyst estimates of $254.58 million. As a group, equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $11.99, for a total value of $416,436.68. Following the transaction, the chief financial officer directly owned 283,298 shares in the company, valued at approximately $3,396,743.02. This trade represents a 10.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $11.99, for a total transaction of $329,784.95. Following the sale, the chief executive officer directly owned 3,582,994 shares of the company’s stock, valued at approximately $42,960,098.06. This represents a 0.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 218,711 shares of company stock valued at $3,633,801 in the last quarter. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Marathon Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Marathon Digital by 9.8% during the 3rd quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock worth $827,392,000 after purchasing an additional 4,049,979 shares during the period. State Street Corp boosted its position in Marathon Digital by 1.4% during the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock valued at $210,977,000 after purchasing an additional 191,380 shares during the period. UBS Group AG grew its stake in Marathon Digital by 104.1% during the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after buying an additional 6,172,110 shares during the last quarter. Geode Capital Management LLC increased its position in Marathon Digital by 3.5% in the second quarter. Geode Capital Management LLC now owns 9,225,303 shares of the business services provider’s stock worth $144,669,000 after buying an additional 315,499 shares during the period. Finally, American Century Companies Inc. lifted its stake in Marathon Digital by 7.8% in the second quarter. American Century Companies Inc. now owns 6,781,198 shares of the business services provider’s stock valued at $106,329,000 after buying an additional 491,245 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.