Marathon Digital (NASDAQ:MARA) Stock Price Up 10.8% – Still a Buy?

by · The Markets Daily

Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Free Report)’s share price rose 10.8% on Wednesday . The company traded as high as $18.17 and last traded at $18.00. Approximately 28,594,217 shares changed hands during trading, a decline of 46% from the average daily volume of 53,275,641 shares. The stock had previously closed at $16.24.

Wall Street Analysts Forecast Growth

MARA has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a report on Thursday, October 10th. Cantor Fitzgerald assumed coverage on Marathon Digital in a report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective for the company. B. Riley increased their price objective on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, July 12th. JPMorgan Chase & Co. decreased their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. Finally, Macquarie assumed coverage on Marathon Digital in a report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Marathon Digital currently has an average rating of “Hold” and an average price target of $21.43.

Check Out Our Latest Stock Analysis on MARA

Marathon Digital Stock Performance

The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average of $16.44 and a 200-day moving average of $18.42. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 12.38 and a beta of 5.52.

Insider Activity at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $292,250.00. Following the sale, the chief financial officer now directly owns 2,077,232 shares of the company’s stock, valued at approximately $36,351,560. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $481,337.50. Following the sale, the chief executive officer now directly owns 4,250,804 shares of the company’s stock, valued at $74,389,070. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $292,250.00. Following the completion of the transaction, the chief financial officer now directly owns 2,077,232 shares in the company, valued at $36,351,560. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,417 shares of company stock valued at $1,516,536 in the last ninety days. Company insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Beaird Harris Wealth Management LLC lifted its stake in Marathon Digital by 121.1% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after purchasing an additional 695 shares in the last quarter. Financial Advocates Investment Management lifted its stake in Marathon Digital by 5.2% in the 3rd quarter. Financial Advocates Investment Management now owns 14,201 shares of the business services provider’s stock worth $230,000 after purchasing an additional 700 shares in the last quarter. Ranch Capital Advisors Inc. lifted its stake in Marathon Digital by 6.1% in the 2nd quarter. Ranch Capital Advisors Inc. now owns 13,532 shares of the business services provider’s stock worth $269,000 after purchasing an additional 780 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Marathon Digital by 4.1% during the 1st quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock worth $505,000 after buying an additional 881 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of Marathon Digital by 6.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 18,879 shares of the business services provider’s stock worth $306,000 after buying an additional 1,170 shares during the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

Marathon Digital Company Profile

(Get Free Report)

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.

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