Marathon Digital (NASDAQ:MARA) Trading Up 3.2% – Here’s Why

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price shot up 3.2% during trading on Tuesday . The stock traded as high as $12.12 and last traded at $11.88. 49,553,741 shares were traded during trading, an increase of 7% from the average session volume of 46,433,605 shares. The stock had previously closed at $11.51.

Analysts Set New Price Targets

Several equities research analysts recently commented on MARA shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Marathon Digital in a research note on Monday. Macquarie raised their price objective on shares of Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. BTIG Research reiterated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research note on Friday, September 5th. Piper Sandler boosted their target price on shares of Marathon Digital from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Finally, Rosenblatt Securities reduced 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. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.00.

Marathon Digital Stock Performance

The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 10.70 and a beta of 6.40. The company’s fifty day simple moving average is $17.84 and its two-hundred day simple moving average is $16.67. 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) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The business had revenue of $252.41 million for the quarter, compared to the consensus estimate of $254.58 million. On average, analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Vicki Mealer-Burke sold 14,887 shares of the firm’s 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 owned 58,103 shares in the company, valued at $884,327.66. This trade represents a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Zabi Nowaid sold 25,113 shares of Marathon Digital stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $15.87, for a total value of $398,543.31. Following 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 172,361 shares of company stock valued at $3,130,259. 0.80% of the stock is owned by company insiders.

Institutional Trading of Marathon Digital

Institutional investors have recently made changes to their positions in the company. Hollencrest Capital Management raised its holdings in shares of Marathon Digital by 2,407.4% in the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 1,300 shares during the last quarter. Fifth Third Bancorp grew its position in Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after purchasing an additional 683 shares in the last quarter. Estabrook Capital Management bought a new stake in Marathon Digital in the 2nd quarter worth about $31,000. Bessemer Group Inc. increased its stake in Marathon Digital by 56.8% in the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after buying an additional 659 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in shares of Marathon Digital by 375.4% during the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock worth $40,000 after buying an additional 2,001 shares in the last quarter. Institutional investors 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.