Marathon Digital (NASDAQ:MARA) Trading Up 3.2% – Here’s Why

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price was up 3.2% on Tuesday . The stock traded as high as $12.12 and last traded at $11.88. Approximately 49,553,741 shares traded hands during mid-day trading, an increase of 7% from the average daily volume of 46,433,605 shares. The stock had previously closed at $11.51.

Analyst Upgrades and Downgrades

Several brokerages have commented on MARA. JPMorgan Chase & Co. lowered their target price on Marathon Digital from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, September 26th. Guggenheim assumed coverage on shares of Marathon Digital in a report on Tuesday, October 21st. They set a “neutral” rating on the stock. Piper Sandler upped their price objective on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Compass Point initiated coverage on shares of Marathon Digital in a research report on Monday, September 15th. They issued a “neutral” rating and a $18.00 target price on the stock. Finally, Rosenblatt Securities decreased their target price on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.00.

Marathon Digital Trading Up 3.2%

The business’s fifty day moving average is $17.84 and its 200-day moving average is $16.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market cap of $4.49 billion, a P/E ratio of 10.70 and a beta of 6.40.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The business had revenue of $252.41 million during the quarter, compared to analyst estimates of $254.58 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. Analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Buying and Selling

In related news, Director Vicki Mealer-Burke sold 14,887 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $15.22, for a total transaction of $226,580.14. Following the completion of the transaction, the director directly owned 58,103 shares of the company’s stock, valued at $884,327.66. This trade represents a 20.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Zabi Nowaid sold 25,113 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $15.87, for a total value of $398,543.31. Following the completion of the sale, the general counsel owned 723,136 shares in the company, valued at $11,476,168.32. This trade represents a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 172,361 shares of company stock valued at $3,130,259. Company insiders own 0.80% of the company’s stock.

Institutional Trading of Marathon Digital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management lifted its position in shares of Marathon Digital by 2,407.4% in the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock worth $25,000 after purchasing an additional 1,300 shares during the period. Bessemer Group Inc. increased its position in shares of Marathon Digital by 56.8% during the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after buying an additional 659 shares during the period. Fifth Third Bancorp raised its stake in Marathon Digital by 59.9% during the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after buying an additional 683 shares during the last quarter. Estabrook Capital Management acquired a new position in Marathon Digital in the second quarter valued at $31,000. Finally, Salomon & Ludwin LLC acquired a new position in Marathon Digital in the third quarter valued at $47,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

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.