Marathon Digital (NASDAQ:MARA) Shares Up 1.9% – What’s Next?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares shot up 1.9% during trading on Friday . The stock traded as high as $14.11 and last traded at $13.81. 39,911,772 shares changed hands during trading, a decline of 14% from the average session volume of 46,446,102 shares. The stock had previously closed at $13.55.

Wall Street Analysts Forecast Growth

Several research firms have commented on MARA. Cantor Fitzgerald cut their price target on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. HC Wainwright reaffirmed a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Rosenblatt Securities lifted their price target on Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Weiss Ratings lowered Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report 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 on the stock in a research report on Tuesday, May 19th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Marathon Digital presently has a consensus rating of “Hold” and a consensus target price of $18.38.

Marathon Digital Stock Up 1.9%

The firm has a 50 day simple moving average of $10.62 and a two-hundred day simple moving average of $10.51. The company has a market capitalization of $5.27 billion, a PE ratio of -2.41 and a beta of 5.41. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.99.

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

Insider Activity at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $12.00, for a total transaction of $192,000.00. Following the sale, the chief financial officer directly owned 425,066 shares in the company, valued at approximately $5,100,792. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 8,250 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $12.00, for a total value of $99,000.00. Following the sale, the general counsel owned 970,768 shares in the company, valued at approximately $11,649,216. The trade was a 0.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 180,855 shares of company stock worth $2,033,654 over the last three months. 0.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Marathon Digital

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Marathon Digital by 9.8% in the third quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock worth $827,392,000 after acquiring an additional 4,049,979 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of Marathon Digital in the third quarter worth $4,643,000. Farallon Capital Management LLC raised its holdings in shares of Marathon Digital by 338.3% in the third quarter. Farallon Capital Management LLC now owns 3,660,000 shares of the business services provider’s stock worth $66,832,000 after acquiring an additional 2,825,000 shares during the last quarter. Stevens Capital Management LP raised its holdings in shares of Marathon Digital by 446.6% in the third quarter. Stevens Capital Management LP now owns 319,549 shares of the business services provider’s stock worth $5,835,000 after acquiring an additional 261,085 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Marathon Digital in the fourth quarter worth $10,201,000. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

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.