Marathon Digital (NASDAQ:MARA) Shares Up 1.5% – What’s Next?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) rose 1.5% during mid-day trading on Wednesday . The stock traded as high as $11.46 and last traded at $11.11. Approximately 56,236,534 shares traded hands during trading, an increase of 44% from the average daily volume of 38,940,305 shares. The stock had previously closed at $10.95.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald dropped their price objective on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Rosenblatt Securities dropped their price target on Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Macquarie raised their price objective on Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Piper Sandler decreased their price objective on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Guggenheim assumed coverage on Marathon Digital in a report on Tuesday, October 21st. They issued a “neutral” rating on the stock. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.44.

Marathon Digital Trading Up 1.5%

The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average price of $11.40 and a 200 day moving average price of $15.39. The stock has a market capitalization of $4.20 billion, a PE ratio of 6.17 and a beta of 5.34.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The company had revenue of $252.41 million for the quarter, compared to the consensus estimate of $254.58 million. Marathon Digital had a negative return on equity of 2.59% and a net margin of 100.82%. Equities analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Activity at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $10.77, for a total transaction of $296,228.85. Following the transaction, the chief executive officer directly owned 3,555,489 shares in the company, valued at approximately $38,292,616.53. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Zabi Nowaid sold 25,113 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $15.87, for a total transaction of $398,543.31. Following the completion of the sale, the general counsel owned 723,136 shares of the company’s stock, valued at approximately $11,476,168.32. This trade represents a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 182,979 shares of company stock valued at $2,476,153 over the last ninety days. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management increased its stake in shares of Marathon Digital by 2,407.4% during the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock worth $25,000 after purchasing an additional 1,300 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Marathon Digital by 59.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after buying an additional 683 shares in the last quarter. Estabrook Capital Management bought a new position in Marathon Digital in the 2nd quarter worth approximately $31,000. Bessemer Group Inc. grew its stake in Marathon Digital by 56.8% in the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after buying an additional 659 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in shares of Marathon Digital by 375.4% during the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock worth $40,000 after acquiring an additional 2,001 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors.

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.