Marathon Digital (NASDAQ:MARA) Trading Up 6.5% – Here’s What Happened

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price shot up 6.5% during trading on Friday . The stock traded as high as $11.98 and last traded at $11.83. 31,788,392 shares were traded during trading, a decline of 32% from the average session volume of 46,492,965 shares. The stock had previously closed at $11.11.

Analyst Upgrades and Downgrades

MARA has been the subject of a number of recent analyst reports. Cantor Fitzgerald lowered their price target on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. JPMorgan Chase & Co. decreased their target price on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday. BTIG Research restated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research note on Friday, September 5th. Macquarie raised their price target on Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Monday. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Marathon Digital Trading Up 6.5%

The company has a fifty day moving average of $16.93 and a 200-day moving average of $16.46. The firm has a market capitalization of $4.47 billion, a PE ratio of 10.66 and a beta of 6.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Activity

In other Marathon Digital news, Director Vicki Mealer-Burke sold 14,887 shares of Marathon Digital stock in a transaction that occurred on Monday, September 8th. The stock was 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 of the company’s stock, valued at $884,327.66. The trade was a 20.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $11.99, for a total transaction of $416,436.68. Following the transaction, the chief financial officer directly owned 283,298 shares in the company, valued at $3,396,743.02. This trade represents a 10.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 234,598 shares of company stock valued at $3,876,481. 0.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marathon Digital

Hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management lifted its stake in Marathon Digital by 2,407.4% during the third 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. Fifth Third Bancorp raised its stake in shares of Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after acquiring an additional 683 shares during the last quarter. Estabrook Capital Management acquired a new stake in shares of Marathon Digital in the 2nd quarter valued at $31,000. Bessemer Group Inc. lifted its position in Marathon Digital by 56.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 659 shares during the period. Finally, IFP Advisors Inc boosted its stake in Marathon Digital by 375.4% in the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 2,001 shares during the last quarter. 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.