Marathon Digital (NASDAQ:MARA) Trading 5.7% Higher – Should You Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price traded up 5.7% during mid-day trading on Monday . The stock traded as high as $9.84 and last traded at $9.45. 69,979,331 shares traded hands during mid-day trading, an increase of 48% from the average session volume of 47,273,281 shares. The stock had previously closed at $8.94.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MARA. HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Cantor Fitzgerald decreased their price target on shares of Marathon Digital from $21.00 to $11.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Weiss Ratings upgraded shares of Marathon Digital from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, February 20th. Rosenblatt Securities reduced their price objective on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, November 24th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.00.

Marathon Digital Stock Up 7.3%

The business’s fifty day moving average is $9.28 and its 200-day moving average is $13.34. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.27 and a quick ratio of 2.09.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($4.29). Marathon Digital had a negative return on equity of 19.01% and a negative net margin of 144.58%.The company had revenue of $202.31 million for the quarter, compared to analysts’ expectations of $250.74 million. During the same period in the prior year, the business earned $1.24 EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $10.80, for a total value of $297,054.00. Following the transaction, the chief executive officer directly owned 3,517,566 shares in the company, valued at $37,989,712.80. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $11.48, for a total value of $398,723.36. Following the completion of the transaction, the chief financial officer directly owned 248,566 shares in the company, valued at $2,853,537.68. This represents a 12.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 133,247 shares of company stock worth $1,325,255 in the last quarter. 0.80% of the stock is owned by insiders.

Institutional Trading of Marathon Digital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management lifted its position in Marathon Digital by 2,407.4% during the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after buying an additional 1,300 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Marathon Digital by 56.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 659 shares in the last quarter. Estabrook Capital Management acquired a new position in shares of Marathon Digital during the 2nd quarter valued at $31,000. Salomon & Ludwin LLC purchased a new stake in Marathon Digital during the 3rd quarter worth $47,000. Finally, Danske Bank A S acquired a new stake in Marathon Digital in the 3rd quarter valued at $55,000. 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.