Marathon Digital (NASDAQ:MARA) Trading Up 3% – Should You Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) was up 3% during mid-day trading on Tuesday . The company traded as high as $16.31 and last traded at $15.96. Approximately 12,232,771 shares traded hands during trading, a decline of 77% from the average daily volume of 53,296,012 shares. The stock had previously closed at $15.50.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Cantor Fitzgerald started coverage on shares of Marathon Digital in a research note on Thursday, October 10th. They issued an “overweight” rating and a $21.00 target price for the company. B. Riley raised their price objective on Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Macquarie began coverage on Marathon Digital in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research report on Thursday, October 10th. Finally, 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 research report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Digital currently has a consensus rating of “Hold” and an average price target of $21.43.

Marathon Digital Stock Up 3.7 %

The firm has a 50-day moving average price of $16.47 and a two-hundred day moving average price of $18.43. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 10.24 and a beta of 5.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75.

Insider Buying and Selling

In other news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the transaction, the chief financial officer now directly owns 2,103,347 shares in the company, valued at $33,022,547.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the completion of the sale, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at approximately $33,022,547.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction dated Friday, September 20th. The shares were 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,417 shares of company stock worth $1,516,536. 0.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Marathon Digital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Beaird Harris Wealth Management LLC lifted its stake in shares of Marathon Digital by 121.1% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after buying an additional 695 shares during the last quarter. Financial Advocates Investment Management raised its holdings 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 valued at $230,000 after acquiring an additional 700 shares during the period. Ranch Capital Advisors Inc. lifted its position in Marathon Digital by 6.1% during the second quarter. Ranch Capital Advisors Inc. now owns 13,532 shares of the business services provider’s stock worth $269,000 after acquiring an additional 780 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Marathon Digital by 4.1% during the first quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock worth $505,000 after acquiring an additional 881 shares during the period. Finally, Crossmark Global Holdings Inc. grew its position in shares of Marathon Digital by 6.6% in the third quarter. Crossmark Global Holdings Inc. now owns 18,879 shares of the business services provider’s stock valued at $306,000 after purchasing an additional 1,170 shares during the last quarter. 44.53% of the stock is owned by institutional investors.

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.