Marathon Digital (NASDAQ:MARA) Stock Price Up 3.6% – Should You Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price rose 3.6% on Thursday . The company traded as high as $10.68 and last traded at $10.44. Approximately 30,913,383 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 36,558,094 shares. The stock had previously closed at $10.08.

Analyst Ratings Changes

MARA has been the subject of several research analyst reports. Guggenheim started coverage on Marathon Digital in a research report on Tuesday, October 21st. They issued a “neutral” rating for the company. Rosenblatt Securities cut their price target on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Marathon Digital in a report on Monday, December 29th. Cantor Fitzgerald lowered their target price on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.56.

Marathon Digital Trading Up 3.6%

The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 5.80 and a beta of 5.34. The business has a 50 day moving average of $11.96 and a 200 day moving average of $15.51. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63.

Marathon Digital (NASDAQ:MARA) last released 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 analysts’ expectations of $254.58 million. Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. On average, research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Zabi Nowaid sold 25,113 shares of Marathon Digital stock in a transaction on Monday, November 10th. The stock was 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 of the company’s stock, valued at $11,476,168.32. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $10.77, for a total value of $296,228.85. Following the transaction, the chief executive officer owned 3,555,489 shares in the company, valued at $38,292,616.53. This trade represents a 0.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 217,711 shares of company stock worth $3,265,959. 0.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Marathon Digital

Institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its position in Marathon Digital by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock valued at $127,000 after acquiring an additional 991 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Marathon Digital by 65.3% in the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock valued at $88,000 after acquiring an additional 3,032 shares during the period. Caxton Associates LLP bought a new stake in Marathon Digital in the first quarter valued at $1,530,000. United Services Automobile Association increased its stake in shares of Marathon Digital by 8.2% in the first quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock valued at $257,000 after purchasing an additional 1,569 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Marathon Digital by 11.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider’s stock valued at $7,398,000 after acquiring an additional 63,903 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.