Marathon Digital (NASDAQ:MARA) Stock Price Up 4.4% – Should You Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares traded up 4.4% during mid-day trading on Monday . The stock traded as high as $16.43 and last traded at $14.85. Approximately 66,719,175 shares changed hands during mid-day trading, an increase of 47% from the average daily volume of 45,383,512 shares. The stock had previously closed at $14.22.

Analyst Upgrades and Downgrades

MARA has been the topic of a number of research reports. Rosenblatt Securities boosted their price target on Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, May 1st. HC Wainwright reissued a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Morgan Stanley cut their target price on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 19th. BTIG Research reaffirmed a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research report on Monday, June 1st. Finally, Cantor Fitzgerald lowered their price objective on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.38.

Marathon Digital Trading Up 4.4%

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. The business has a 50-day moving average of $12.73 and a 200-day moving average of $10.60. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of -2.60 and a beta of 5.38.

Insider Buying and Selling at Marathon Digital

In other news, CFO Salman Hassan Khan sold 16,000 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $11.68, for a total value of $186,880.00. Following the completion of the sale, the chief financial officer owned 441,066 shares of the company’s stock, valued at approximately $5,151,650.88. This represents a 3.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $11.68, for a total transaction of $321,258.40. Following the completion of the transaction, the chief executive officer directly owned 4,725,219 shares of the company’s stock, valued at $55,190,557.92. This represents a 0.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 137,350 shares of company stock worth $1,634,278 over the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Marathon Digital

Large investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its stake in shares of Marathon Digital by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after buying an additional 991 shares during the last quarter. NewEdge Advisors LLC grew its stake in Marathon Digital by 65.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock valued at $88,000 after buying an additional 3,032 shares during the last quarter. United Services Automobile Association grew its stake in Marathon Digital by 8.2% in the 1st quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock valued at $257,000 after buying an additional 1,569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Marathon Digital by 11.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider’s stock valued at $7,398,000 after acquiring an additional 63,903 shares during the period. Finally, Envestnet Asset Management Inc. bought a new position in Marathon Digital in the 2nd quarter valued at about $183,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

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.