Marathon Digital (NASDAQ:MARA) Trading 0.2% Higher – Time to Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded up 0.2% during trading on Friday . The company traded as high as $19.43 and last traded at $19.35. 14,960,017 shares traded hands during trading, a decline of 72% from the average session volume of 53,345,395 shares. The stock had previously closed at $19.31.

Wall Street Analysts Forecast Growth

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

Marathon Digital Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75. The firm’s 50 day moving average is $16.53 and its 200-day moving average is $18.44. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 12.40 and a beta of 5.52.

Insider Buying and Selling

In related news, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the sale, the chief executive officer now 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the sale, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at $67,169,451.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,417 shares of company stock valued at $1,516,536. 0.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

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.