Marathon Digital (NASDAQ:MARA) Stock Price Up 3.6% on Analyst Upgrade

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares traded up 3.6% on Tuesday after Piper Sandler raised their price target on the stock from $23.00 to $26.00. Piper Sandler currently has an overweight rating on the stock. Marathon Digital traded as high as $19.43 and last traded at $19.50. 12,358,059 shares changed hands during trading, a decline of 72% from the average session volume of 44,806,354 shares. The stock had previously closed at $18.83.

Several other equities analysts also recently commented on the stock. Barclays upped their price target on shares of Marathon Digital from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. JPMorgan Chase & Co. increased their price objective on shares of Marathon Digital from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, June 13th. Compass Point reiterated a “sell” rating and set a $9.50 price objective (down from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. Rosenblatt Securities increased their price objective on shares of Marathon Digital from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. Finally, HC Wainwright reissued a “buy” rating and set a $28.00 target price on shares of Marathon Digital in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Marathon Digital presently has a consensus rating of “Hold” and an average target price of $21.28.

Insider Activity at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $19.52, for a total value of $536,897.60. Following the completion of the transaction, the chief executive officer owned 3,946,504 shares in the company, valued at $77,035,758.08. This trade represents a 0.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Douglas K. Mellinger sold 3,000 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $16.00, for a total transaction of $48,000.00. Following the completion of the transaction, the director owned 176,859 shares of the company’s stock, valued at $2,829,744. This represents a 1.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 262,090 shares of company stock worth $4,270,591 in the last 90 days. 0.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Marathon Digital

A number of large investors have recently added to or reduced their stakes in MARA. Raymond James Financial Inc. acquired a new stake in shares of Marathon Digital during the 4th quarter worth about $1,408,000. Commonwealth Equity Services LLC boosted its position in shares of Marathon Digital by 35.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 105,385 shares of the business services provider’s stock worth $1,767,000 after acquiring an additional 27,324 shares during the last quarter. Natixis Advisors LLC raised its holdings in Marathon Digital by 95.6% in the fourth quarter. Natixis Advisors LLC now owns 30,703 shares of the business services provider’s stock valued at $515,000 after buying an additional 15,004 shares during the period. Corient Private Wealth LLC purchased a new position in Marathon Digital in the fourth quarter valued at approximately $195,000. Finally, Cibc World Markets Corp purchased a new position in Marathon Digital in the fourth quarter valued at approximately $447,000. 44.53% of the stock is owned by institutional investors and hedge funds.

Marathon Digital Price Performance

The company’s fifty day moving average is $16.19 and its 200 day moving average is $15.40. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.62. The stock has a market cap of $6.90 billion, a PE ratio of -13.51 and a beta of 6.53.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Thursday, May 8th. The business services provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.06). Marathon Digital had a negative net margin of 46.68% and a positive return on equity of 6.33%. The business had revenue of $213.88 million during the quarter, compared to analysts’ expectations of $234.19 million. During the same quarter in the previous year, the business posted $1.26 EPS. The company’s quarterly revenue was up 29.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

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.