Marathon Digital (NASDAQ:MARA) Trading Up 2.6% – What’s Next?

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) rose 2.6% on Monday . The company traded as high as $12.12 and last traded at $12.05. Approximately 33,370,967 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 46,323,383 shares. The stock had previously closed at $11.74.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MARA. Guggenheim began coverage on Marathon Digital in a report on Tuesday, October 21st. They set a “neutral” rating for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Marathon Digital in a research report on Monday. Rosenblatt Securities decreased their price objective 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. Compass Point raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Monday, November 24th. Finally, Macquarie boosted their price target on shares of Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Marathon Digital Price Performance

The firm has a market cap of $4.51 billion, a PE ratio of 6.62 and a beta of 5.42. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a 50-day simple moving average of $15.90 and a 200 day simple moving average of $16.22.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Marathon Digital had a negative return on equity of 2.59% and a net margin of 100.82%.The business had revenue of $252.41 million during the quarter, compared to analysts’ expectations of $254.58 million. As a group, equities analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Activity

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction on Monday, November 17th. The stock was sold at an average price of $11.99, for a total transaction of $416,436.68. Following the completion of the transaction, the chief financial officer owned 283,298 shares in the company, valued at approximately $3,396,743.02. The trade was a 10.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Zabi Nowaid sold 25,113 shares of the business’s 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 directly owned 723,136 shares in the company, valued at $11,476,168.32. This trade represents a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 218,711 shares of company stock worth $3,633,801. Insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Marathon Digital

Several large investors have recently modified their holdings of the stock. Hollencrest Capital Management grew its position in Marathon Digital by 2,407.4% during the 3rd 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 lifted its stake in shares of Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after buying an additional 683 shares in the last quarter. Estabrook Capital Management purchased a new stake in shares of Marathon Digital during the second quarter valued at approximately $31,000. Bessemer Group Inc. grew its holdings in shares of Marathon Digital by 56.8% during the third 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 increased its position in shares of Marathon Digital by 375.4% during the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 2,001 shares in the last quarter. Hedge funds and other 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.