Marathon Digital (NASDAQ:MARA) Trading 1.8% Higher – Still a Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price shot up 1.8% on Wednesday . The stock traded as high as $11.22 and last traded at $10.56. 42,783,871 shares changed hands during trading, an increase of 3% from the average session volume of 41,666,266 shares. The stock had previously closed at $10.37.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Monday, November 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Marathon Digital in a research report on Monday, December 29th. Macquarie increased their price objective on shares of Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Piper Sandler decreased their price objective on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. Finally, Cantor Fitzgerald lowered their price target on Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.44.

Marathon Digital Trading Up 1.8%

The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average is $10.83 and its 200 day moving average is $15.15. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 5.87 and a beta of 5.34.

Marathon Digital (NASDAQ:MARA) last announced its 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). Marathon Digital had a negative return on equity of 2.59% and a net margin of 100.82%.The company had revenue of $252.41 million for the quarter, compared to the consensus estimate of $254.58 million. On average, equities analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $11.48, for a total transaction of $398,723.36. Following the completion of the sale, the chief financial officer directly owned 248,566 shares in the company, valued at approximately $2,853,537.68. This trade represents a 12.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Zabi Nowaid sold 25,113 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $15.87, for a total value of $398,543.31. Following the sale, the general counsel owned 723,136 shares in the company, valued at approximately $11,476,168.32. The trade was a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 155,474 shares of company stock valued at $1,937,880. 0.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MARA. UBS Group AG boosted its holdings in Marathon Digital by 104.1% in the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after acquiring an additional 6,172,110 shares in the last quarter. Marex Group plc bought a new position in shares of Marathon Digital in the 2nd quarter worth $84,301,000. Voloridge Investment Management LLC acquired a new stake in Marathon Digital in the 3rd quarter valued at $93,066,000. Vanguard Group Inc. increased its stake in Marathon Digital by 9.8% during the 3rd quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock valued at $827,392,000 after purchasing an additional 4,049,979 shares in the last quarter. Finally, Norges Bank bought a new stake in Marathon Digital during the 2nd quarter valued at $59,255,000. 44.53% of the stock is owned by institutional investors and hedge funds.

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.