Marathon Digital (NASDAQ:MARA) Trading Up 2.9% – Should You Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price was up 2.9% on Friday . The stock traded as high as $18.39 and last traded at $18.27. Approximately 33,277,720 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 46,408,727 shares. The stock had previously closed at $17.76.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Digital in a report on Wednesday, October 8th. Piper Sandler increased their target price on Marathon Digital from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Rosenblatt Securities boosted their price target on Marathon Digital from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Compass Point initiated coverage on shares of Marathon Digital in a research report on Monday, September 15th. They set a “neutral” rating and a $18.00 price objective on the stock. Finally, Guggenheim initiated coverage on shares of Marathon Digital in a research report on Tuesday, October 21st. They set a “neutral” rating for the company. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.20.

Marathon Digital Price Performance

The company has a market cap of $6.77 billion, a P/E ratio of 16.46 and a beta of 6.33. The firm’s 50-day moving average is $18.01 and its two-hundred day moving average is $16.54. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54.

Insider Activity

In other news, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $22.74, for a total value of $789,805.68. Following the completion of the sale, the chief financial officer directly owned 318,030 shares of the company’s stock, valued at $7,232,002.20. This trade represents a 9.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Vicki Mealer-Burke sold 14,887 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $15.22, for a total value of $226,580.14. Following the transaction, the director directly owned 58,103 shares in the company, valued at approximately $884,327.66. This represents a 20.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 204,598 shares of company stock worth $3,616,374. 0.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marathon Digital

Several hedge funds and other institutional investors have recently made changes to their positions in MARA. Emerald Advisers LLC lifted its stake in Marathon Digital by 77.4% in the second quarter. Emerald Advisers LLC now owns 579,571 shares of the business services provider’s stock worth $9,088,000 after purchasing an additional 252,864 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in shares of Marathon Digital by 91.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 347,214 shares of the business services provider’s stock worth $5,444,000 after buying an additional 165,688 shares during the period. New York State Teachers Retirement System lifted its stake in shares of Marathon Digital by 12.0% during the 2nd quarter. New York State Teachers Retirement System now owns 318,656 shares of the business services provider’s stock worth $4,997,000 after acquiring an additional 34,100 shares during the last quarter. Rhumbline Advisers grew its position in Marathon Digital by 10.0% in the 1st quarter. Rhumbline Advisers now owns 917,299 shares of the business services provider’s stock valued at $10,549,000 after acquiring an additional 83,242 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in Marathon Digital by 14.5% in the first quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider’s stock worth $1,848,000 after purchasing an additional 20,413 shares during the period. Hedge funds and other 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.