Marathon Digital (NASDAQ:MARA) Shares Up 1.2% – Here’s What Happened

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price shot up 1.2% on Tuesday . The company traded as high as $19.94 and last traded at $19.17. 31,074,145 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 53,698,770 shares. The stock had previously closed at $18.94.

Wall Street Analyst Weigh In

Several brokerages recently commented on MARA. Cantor Fitzgerald began coverage on shares of Marathon Digital in a research report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research report on Thursday, October 10th. Macquarie began coverage on shares of Marathon Digital in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Finally, B. Riley increased their price objective on shares of Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.79.

Marathon Digital Stock Down 8.3 %

The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $4.74 billion, a PE ratio of 7.79 and a beta of 5.50. The business’s 50-day simple moving average is $16.59 and its 200-day simple moving average is $18.37.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.49). The firm had revenue of $145.14 million for the quarter, compared to analysts’ expectations of $157.86 million. Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. Marathon Digital’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.13) earnings per share. As a group, equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.05 EPS for the current fiscal year.

Insider Activity

In other news, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $292,250.00. Following the completion of the transaction, the chief financial officer now directly owns 2,077,232 shares of the company’s stock, valued at $36,351,560. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $292,250.00. Following the sale, the chief financial officer now owns 2,077,232 shares of the company’s stock, valued at approximately $36,351,560. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $481,337.50. Following the completion of the sale, the chief executive officer now directly owns 4,250,804 shares in the company, valued at $74,389,070. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,417 shares of company stock valued at $1,516,536 in the last three months. 1.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marathon Digital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Beaird Harris Wealth Management LLC boosted its stake in Marathon Digital by 121.1% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after purchasing an additional 695 shares during the last quarter. Signaturefd LLC boosted its stake in Marathon Digital by 74.8% during the 3rd quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock worth $48,000 after purchasing an additional 1,273 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new stake in Marathon Digital during the 1st quarter worth $90,000. DekaBank Deutsche Girozentrale acquired a new stake in Marathon Digital during the 1st quarter worth $105,000. Finally, Tobam boosted its stake in Marathon Digital by 173.0% during the 3rd quarter. Tobam now owns 7,701 shares of the business services provider’s stock worth $125,000 after purchasing an additional 4,880 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

About Marathon Digital

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.