Marathon Digital (NASDAQ:MARA) Shares Up 1.2% – Here’s What Happened

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) were up 1.2% on Tuesday . The stock traded as high as $19.94 and last traded at $19.17. Approximately 31,074,145 shares changed hands during trading, a decline of 42% from the average daily volume of 53,698,770 shares. The stock had previously closed at $18.94.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MARA shares. B. Riley boosted their price target on shares of Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Cantor Fitzgerald assumed coverage on shares of Marathon Digital in a report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Thursday, October 10th. Macquarie assumed coverage on shares of Marathon Digital in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.79.

Marathon Digital Stock Performance

The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 7.79 and a beta of 5.50. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $16.59 and a 200 day moving average price of $18.37.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The company had revenue of $145.14 million for the quarter, compared to analyst estimates of $157.86 million. During the same period in the prior year, the firm posted ($0.13) earnings per share. The business’s quarterly revenue was up 77.5% compared to the same quarter last year. On average, analysts forecast that Marathon Digital Holdings, Inc. will post -1.05 EPS for the current year.

Insider Transactions at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the transaction, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Frederick G. Thiel sold 27,512 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the transaction, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at $67,169,451.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $481,337.50. Following the completion of the transaction, the chief executive officer now directly owns 4,250,804 shares of the company’s stock, valued at $74,389,070. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,417 shares of company stock valued at $1,516,536. 1.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marathon Digital

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in Marathon Digital by 261.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after purchasing an additional 2,340,472 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Marathon Digital by 186.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock worth $40,485,000 after purchasing an additional 1,327,969 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Marathon Digital by 4,394.8% in the 2nd quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock valued at $26,892,000 after purchasing an additional 1,324,625 shares in the last quarter. Public Sector Pension Investment Board acquired a new stake in shares of Marathon Digital in the second quarter valued at about $11,920,000. Finally, Vanguard Group Inc. grew its position in Marathon Digital by 1.9% during the first quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock worth $540,002,000 after buying an additional 441,455 shares during the period. 44.53% of the stock is owned by institutional investors and hedge funds.

Marathon Digital Company Profile

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.