Marathon Digital (NASDAQ:MARA) Shares Up 5% – Should You Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price traded up 5% on Tuesday . The stock traded as high as $12.76 and last traded at $12.25. 97,841,197 shares traded hands during mid-day trading, an increase of 113% from the average session volume of 45,946,707 shares. The stock had previously closed at $11.67.

Analyst Ratings Changes

Several brokerages have commented on MARA. Morgan Stanley lowered their target price on Marathon Digital from $7.00 to $5.50 and set an “underweight” rating for the company in a research note on Wednesday, July 8th. Cantor Fitzgerald decreased their price target on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Piper Sandler lowered their price objective on shares of Marathon Digital from $16.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday. Weiss Ratings downgraded shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Finally, Rosenblatt Securities raised their target price on shares of Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Marathon Digital Stock Performance

The company has a market capitalization of $4.67 billion, a P/E ratio of -2.14 and a beta of 5.36. 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 company has a fifty day moving average price of $13.33 and a two-hundred day moving average price of $10.91.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, General Counsel Zabi Nowaid sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total value of $99,750.00. Following the completion of the transaction, the general counsel directly owned 963,768 shares in the company, valued at approximately $13,733,694. This represents a 0.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total value of $391,946.25. Following the completion of the sale, the chief executive officer directly owned 4,562,009 shares of the company’s stock, valued at approximately $65,008,628.25. The trade was a 0.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 109,260 shares of company stock valued at $1,452,756 in the last quarter. 0.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. lifted its position in shares of Marathon Digital by 24.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 50,275 shares of the business services provider’s stock worth $698,000 after purchasing an additional 9,873 shares during the period. GAMMA Investing LLC increased its position in shares of Marathon Digital by 20.0% during the second quarter. GAMMA Investing LLC now owns 25,506 shares of the business services provider’s stock worth $354,000 after buying an additional 4,246 shares during the period. Moody National Bank Trust Division bought a new position in Marathon Digital during the second quarter worth $1,858,000. CoreCap Advisors LLC raised its stake in Marathon Digital by 128.0% during the second quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider’s stock worth $51,000 after buying an additional 2,050 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Marathon Digital by 257.3% in the second quarter. Versant Capital Management Inc now owns 4,966 shares of the business services provider’s stock valued at $69,000 after buying an additional 3,576 shares during the period. Institutional investors own 44.53% of the company’s stock.

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.