Marathon Digital (NASDAQ:MARA) Shares Up 1.7% – Still a Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares were up 1.7% during mid-day trading on Tuesday . The company traded as high as $12.87 and last traded at $12.25. Approximately 42,052,103 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 46,306,391 shares. The stock had previously closed at $12.05.

Wall Street Analyst Weigh In

MARA has been the topic of several recent research reports. Rosenblatt Securities cut 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 report on Wednesday, November 5th. Guggenheim began coverage on shares of Marathon Digital in a report on Tuesday, October 21st. They set a “neutral” rating on the stock. Cantor Fitzgerald decreased their price objective on 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. lowered their target price on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Finally, Macquarie lifted their target price on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

Marathon Digital Price Performance

The business has a 50-day moving average of $16.15 and a 200 day moving average of $16.27. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $4.63 billion, a P/E ratio of 6.81 and a beta of 5.42.

Marathon Digital (NASDAQ:MARA) last issued 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 firm had revenue of $252.41 million during the quarter, compared to the consensus estimate of $254.58 million. Marathon Digital had a negative return on equity of 2.59% and a net margin of 100.82%. On average, sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Transactions at Marathon Digital

In related news, CFO Salman Hassan Khan sold 34,732 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $11.99, for a total value of $416,436.68. Following the sale, the chief financial officer owned 283,298 shares in the company, valued at $3,396,743.02. This represents a 10.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Zabi Nowaid sold 25,113 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $15.87, for a total transaction of $398,543.31. Following the completion of the transaction, the general counsel directly owned 723,136 shares in the company, valued at approximately $11,476,168.32. The trade was a 3.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 219,711 shares of company stock valued at $3,649,901 over the last three months. Corporate insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Marathon Digital

Several large investors have recently bought and sold shares of MARA. Bessemer Group Inc. boosted its holdings 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 worth $33,000 after acquiring an additional 659 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Marathon Digital by 59.9% during the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 683 shares in the last quarter. CX Institutional boosted its holdings in Marathon Digital by 12.6% during the second quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock worth $105,000 after purchasing an additional 749 shares during the last quarter. Archer Investment Corp grew its position in Marathon Digital by 10.9% in the 2nd quarter. Archer Investment Corp now owns 7,650 shares of the business services provider’s stock worth $120,000 after purchasing an additional 750 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Marathon Digital by 15.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider’s stock worth $108,000 after purchasing an additional 799 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors.

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.