Marathon Digital (NASDAQ:MARA) Shares Up 0.2% – Here’s Why

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded up 0.2% on Friday . The stock traded as high as $19.43 and last traded at $19.35. 14,960,017 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 53,345,395 shares. The stock had previously closed at $19.31.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Marathon Digital in a report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price objective on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. Finally, Macquarie initiated coverage on Marathon Digital in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 target price on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.43.

Marathon Digital Trading Down 0.3 %

The stock has a market cap of $5.67 billion, a P/E ratio of 12.34 and a beta of 5.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75. The stock’s fifty day moving average is $16.58 and its 200 day moving average is $18.44.

Insider Activity

In other news, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the transaction, the chief executive officer now owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction dated 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 transaction, the chief executive officer now directly owns 4,250,804 shares of the company’s stock, valued at approximately $74,389,070. 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 accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of the 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 sale, the chief executive officer now directly owns 4,278,309 shares in the company, valued at $67,169,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,417 shares of company stock valued at $1,516,536 in the last ninety days. Insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Several hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in 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 acquiring an additional 2,340,472 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Marathon Digital by 186.6% in the 2nd 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 buying an additional 1,327,969 shares during the period. Principal Financial Group Inc. lifted 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 valued at $26,892,000 after buying an additional 1,324,625 shares in the last quarter. Public Sector Pension Investment Board purchased a new stake in Marathon Digital in the 2nd quarter valued at about $11,920,000. Finally, Vanguard Group Inc. grew its stake in Marathon Digital by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock worth $540,002,000 after acquiring an additional 441,455 shares in the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Digital Company Profile

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.