Marathon Digital (NASDAQ:MARA) Trading Up 4.2% – Should You Buy?

by · The Markets Daily

Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Free Report) was up 4.2% during trading on Friday . The company traded as high as $16.08 and last traded at $15.87. Approximately 10,010,615 shares were traded during trading, a decline of 81% from the average daily volume of 53,908,934 shares. The stock had previously closed at $15.23.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MARA shares. B. Riley lifted their target price on Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Macquarie started coverage on Marathon Digital in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Finally, Cantor Fitzgerald started coverage on Marathon Digital in a research note on Thursday. They issued an “overweight” rating and a $21.00 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 issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.79.

Get Our Latest Stock Analysis on Marathon Digital

Marathon Digital Stock Up 6.1 %

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 firm has a market cap of $4.76 billion, a PE ratio of 10.31 and a beta of 5.50. The stock has a fifty day simple moving average of $16.14 and a two-hundred day simple moving average of $18.53.

Marathon Digital (NASDAQ:MARA – Get Free Report) last posted its earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $157.86 million. During the same period in the previous year, the firm earned ($0.13) EPS. The firm’s quarterly revenue was up 77.5% compared to the same quarter last year. As a group, sell-side analysts expect that Marathon Digital Holdings, Inc. will post -1.06 EPS for the current fiscal year.

Insider Transactions at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the transaction, the chief executive officer now owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the transaction, the chief executive officer now owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the transaction, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,212 shares of company stock valued at $726,178. 0.97% of the stock is owned by corporate insiders.

Institutional Trading of Marathon Digital

Several hedge funds and other institutional investors have recently bought and sold shares of MARA. Vanguard Group Inc. boosted its stake in Marathon Digital by 26.7% in the fourth quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock worth $551,395,000 after buying an additional 4,950,392 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Marathon Digital by 261.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock worth $64,249,000 after buying an additional 2,340,472 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Marathon Digital by 186.6% in the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock worth $40,485,000 after buying an additional 1,327,969 shares in the last quarter. Principal Financial Group Inc. lifted its position in Marathon Digital by 4,394.8% in the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock valued at $26,892,000 after purchasing an additional 1,324,625 shares during the last quarter. Finally, Public Sector Pension Investment Board bought a new stake in Marathon Digital in the second quarter valued at approximately $11,920,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

About Marathon Digital

(Get Free Report)

Marathon Digital 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 Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.

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