Marathon Digital (NASDAQ:MARA) Trading Up 2.6% – Should You Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded up 2.6% during mid-day trading on Monday . The company traded as high as $12.12 and last traded at $12.05. 33,370,967 shares changed hands during trading, a decline of 28% from the average session volume of 46,323,383 shares. The stock had previously closed at $11.74.

Analyst Ratings Changes

Several equities research analysts have commented on MARA shares. JPMorgan Chase & Co. lowered their target price on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Marathon Digital in a report on Monday, December 1st. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Monday, November 24th. Macquarie lifted their target price on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Finally, Cantor Fitzgerald lowered their price target on Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Marathon Digital Trading Up 2.6%

The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $4.55 billion, a P/E ratio of 6.69 and a beta of 5.42. The business has a fifty day moving average price of $16.29 and a 200 day moving average price of $16.30.

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

Insider Activity

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction on Monday, November 17th. The shares were sold at an average price of $11.99, for a total value of $329,784.95. Following the sale, the chief executive officer directly owned 3,582,994 shares in the company, valued at approximately $42,960,098.06. The trade was a 0.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $11.99, for a total transaction of $416,436.68. Following the transaction, the chief financial officer owned 283,298 shares of the company’s stock, valued at approximately $3,396,743.02. This represents a 10.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 219,711 shares of company stock worth $3,649,901 over the last ninety days. Insiders own 0.80% of the company’s stock.

Institutional Trading of Marathon Digital

Several institutional investors and hedge funds have recently bought and sold shares of MARA. Hollencrest Capital Management grew its stake in Marathon Digital by 2,407.4% in the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 1,300 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Marathon Digital by 56.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after purchasing an additional 659 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after buying an additional 683 shares during the last quarter. Estabrook Capital Management bought a new position in shares of Marathon Digital in the second quarter valued at $31,000. Finally, Salomon & Ludwin LLC acquired a new position in Marathon Digital during the third quarter worth $47,000. 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.