Marathon Digital (NASDAQ:MARA) Stock Price Up 0.3% - Time to Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price shot up 0.3% on Wednesday . The stock traded as high as $19.00 and last traded at $18.99. 14,009,400 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 53,673,898 shares. The stock had previously closed at $18.94.

Analyst Ratings Changes

MARA has been the topic of a number of research analyst reports. Cantor Fitzgerald initiated coverage on Marathon Digital in a research report on Thursday, October 10th. They issued an "overweight" rating and a $21.00 target price on the stock. HC Wainwright restated a "buy" rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Thursday, October 10th. B. Riley upped their target price on shares of Marathon Digital from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, July 12th. JPMorgan Chase & Co. dropped their price target on shares of Marathon Digital from $14.00 to $12.00 and set an "underweight" rating for the company in a research report on Friday, August 23rd. Finally, Macquarie began coverage on shares of Marathon Digital in a report on Tuesday, September 24th. They issued an "outperform" rating and a $22.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $19.79.

Marathon Digital Stock Performance

The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 8.83 and a beta of 5.50. The stock's fifty day simple moving average is $16.58 and its 200-day simple moving average is $18.37.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The company had revenue of $145.14 million during the quarter, compared to analyst estimates of $157.86 million. During the same quarter in the previous year, the business posted ($0.13) earnings per share. The firm's revenue was up 77.5% on a year-over-year basis. Analysts predict that Marathon Digital Holdings, Inc. will post -1.05 EPS for the current year.

Insider Activity

In related news, CEO Frederick G. Thiel sold 27,512 shares of the company's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the sale, the chief executive officer now directly owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $481,337.50. Following the completion of the sale, the chief executive officer now directly owns 4,250,804 shares of the company's stock, valued at $74,389,070. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the transaction, the chief executive officer now owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,417 shares of company stock worth $1,516,536. 1.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Marathon Digital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MARA. Harvest Portfolios Group Inc. raised its stake in Marathon Digital by 17.5% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 59,037 shares of the business services provider's stock worth $958,000 after acquiring an additional 8,778 shares in the last quarter. Amalgamated Bank boosted its stake in Marathon Digital by 3.4% in the third quarter. Amalgamated Bank now owns 86,113 shares of the business services provider's stock valued at $1,397,000 after acquiring an additional 2,838 shares in the last quarter. United Advisor Group LLC purchased a new position in shares of Marathon Digital during the third quarter worth about $503,000. Van ECK Associates Corp increased its position in shares of Marathon Digital by 12.8% during the third quarter. Van ECK Associates Corp now owns 1,106,037 shares of the business services provider's stock worth $17,940,000 after purchasing an additional 125,717 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC increased its position in shares of Marathon Digital by 12.9% during the third quarter. Gladstone Institutional Advisory LLC now owns 48,281 shares of the business services provider's stock worth $783,000 after purchasing an additional 5,522 shares in the last quarter. 44.53% of the stock is 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.