Marathon Digital (NASDAQ:MARA) Trading 3% Higher – What’s Next?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shot up 3% during trading on Tuesday . The stock traded as high as $16.31 and last traded at $15.96. 12,232,771 shares were traded during mid-day trading, a decline of 77% from the average session volume of 53,296,012 shares. The stock had previously closed at $15.50.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MARA shares. JPMorgan Chase & Co. cut their target price on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 23rd. B. Riley raised their price target on Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Cantor Fitzgerald initiated coverage on Marathon Digital in a research report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 target price on the stock. Macquarie assumed coverage on shares of Marathon Digital in a research report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.43.

Marathon Digital Stock Up 3.7 %

The stock has a market capitalization of $4.74 billion, a P/E ratio of 10.24 and a beta of 5.52. 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 firm’s fifty day moving average is $16.47 and its 200-day moving average is $18.43.

Insider Transactions at Marathon Digital

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction on Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the transaction, the chief executive officer now owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $292,250.00. Following the completion of the sale, the chief financial officer now owns 2,077,232 shares in the company, 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 SEC, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the transaction, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,417 shares of company stock valued at $1,516,536. Corporate insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in shares of Marathon Digital by 261.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after buying an additional 2,340,472 shares during the period. Bank of New York Mellon Corp increased its position in Marathon Digital by 186.6% in the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock worth $40,485,000 after purchasing an additional 1,327,969 shares during the period. Principal Financial Group Inc. raised its holdings in Marathon Digital by 4,394.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock worth $26,892,000 after purchasing an additional 1,324,625 shares during the last quarter. Public Sector Pension Investment Board acquired a new position in Marathon Digital during the 2nd quarter valued at about $11,920,000. Finally, Vanguard Group Inc. grew its position in shares of Marathon Digital by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock worth $540,002,000 after buying an additional 441,455 shares during the period. Institutional investors 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.