Marathon Digital (NASDAQ:MARA) Stock Price Up 3% – Still a Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price shot up 3% during trading on Thursday . The stock traded as high as $13.77 and last traded at $13.55. 34,649,800 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 46,511,422 shares. The stock had previously closed at $13.15.

Analysts Set New Price Targets

MARA has been the subject of several analyst reports. Rosenblatt Securities boosted their target price on shares of Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Cantor Fitzgerald cut their price objective on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Weiss Ratings lowered shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Finally, Morgan Stanley cut their price target on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.38.

Marathon Digital Stock Up 1.9%

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. The business’s 50 day moving average price is $10.62 and its 200 day moving average price is $10.51. The firm has a market cap of $5.27 billion, a PE ratio of -2.41 and a beta of 5.41.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data on Thursday, February 26th. The business services provider reported ($4.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($4.29). The firm had revenue of $202.31 million during the quarter, compared to analyst estimates of $250.74 million. Marathon Digital had a negative return on equity of 23.20% and a negative net margin of 234.83%.The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 earnings per share. On average, equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.67 earnings per share for the current year.

Insider Activity at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,000 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $11.68, for a total value of $186,880.00. Following the transaction, the chief financial officer owned 441,066 shares in the company, valued at approximately $5,151,650.88. This trade represents a 3.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 42,090 shares of Marathon Digital stock in a transaction on Friday, April 17th. The stock was sold at an average price of $12.00, for a total transaction of $505,080.00. Following the sale, the general counsel directly owned 1,007,047 shares in the company, valued at approximately $12,084,564. This trade represents a 4.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 180,855 shares of company stock valued at $2,033,654. 0.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MARA. Bessemer Group Inc. increased its holdings in shares of Marathon Digital by 56.8% in the third 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 last quarter. Smartleaf Asset Management LLC grew its holdings 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 valued at $108,000 after buying an additional 799 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Marathon Digital by 3.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 29,389 shares of the business services provider’s stock worth $537,000 after acquiring an additional 882 shares during the last quarter. United Capital Management of KS Inc. boosted its position in shares of Marathon Digital by 2.4% during the 3rd quarter. United Capital Management of KS Inc. now owns 40,054 shares of the business services provider’s stock valued at $731,000 after acquiring an additional 937 shares during the last quarter. Finally, CI Investments Inc. grew its holdings in shares of Marathon Digital by 7.6% in the first quarter. CI Investments Inc. now owns 13,520 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 957 shares during the period. 44.53% of the stock is owned by hedge funds and other institutional investors.

Marathon Digital Company Profile

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.