Marathon Digital (NASDAQ:MARA) Shares Up 3.3% – Should You Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price shot up 3.3% on Monday . The company traded as high as $15.32 and last traded at $14.85. 51,135,824 shares changed hands during mid-day trading, an increase of 11% from the average session volume of 46,260,820 shares. The stock had previously closed at $14.38.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings cut shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. BTIG Research reaffirmed a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research report on Monday. HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Morgan Stanley reduced their price target on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a research report on Tuesday, May 19th. Finally, Rosenblatt Securities raised their price target on Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Marathon Digital presently has a consensus rating of “Hold” and an average price target of $18.38.

Marathon Digital Price Performance

The business has a fifty day moving average of $11.13 and a 200 day moving average of $10.38. The firm has a market cap of $5.66 billion, a P/E ratio of -2.60 and a beta of 5.38. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Thursday, February 26th. The business services provider reported ($4.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($4.29). Marathon Digital had a negative net margin of 234.83% and a negative return on equity of 23.20%. The business had revenue of $202.31 million during the quarter, compared to analyst estimates of $250.74 million. During the same period in the previous year, the business earned $1.24 earnings per share. The business’s quarterly revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -1.67 earnings per share for the current year.

Insider Activity at Marathon Digital

In other Marathon Digital news, General Counsel Zabi Nowaid sold 8,250 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $12.00, for a total transaction of $99,000.00. Following the completion of the sale, the general counsel owned 970,768 shares of the company’s stock, valued at $11,649,216. This trade represents a 0.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction on Monday, May 18th. The stock was sold at an average price of $12.00, for a total transaction of $330,060.00. Following the transaction, the chief executive officer directly owned 4,589,514 shares of the company’s stock, valued at approximately $55,074,168. This trade represents a 0.60% 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. In the last quarter, insiders have sold 180,855 shares of company stock worth $2,033,654. Company insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ascentis Independent Advisors bought a new position in Marathon Digital in the 1st quarter valued at about $28,000. Bessemer Group Inc. boosted its holdings in shares of Marathon Digital by 56.8% during the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after acquiring an additional 659 shares during the period. Bogart Wealth LLC grew its position in shares of Marathon Digital by 4,345.1% in the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 3,954 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of Marathon Digital in the fourth quarter valued at approximately $36,000. Finally, Hantz Financial Services Inc. increased its stake in shares of Marathon Digital by 344.8% during the fourth quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock worth $45,000 after purchasing an additional 3,893 shares during the period. 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.