Marathon Digital (NASDAQ:MARA) Trading 2.6% Higher – Here’s What Happened

by · The Markets Daily

Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Free Report)’s share price was up 2.6% during mid-day trading on Monday . The company traded as high as $12.12 and last traded at $12.05. Approximately 33,370,967 shares traded hands during trading, a decline of 28% from the average daily volume of 46,323,383 shares. The stock had previously closed at $11.74.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MARA. Rosenblatt Securities cut their price target on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Guggenheim started coverage on shares of Marathon Digital in a report on Tuesday, October 21st. They set a “neutral” rating for the company. BTIG Research reissued a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a report on Friday, September 5th. Macquarie increased their price target on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. cut their price objective on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Get Our Latest Stock Report on Marathon Digital

Marathon Digital Stock Up 2.6%

The firm’s 50-day moving average is $16.29 and its two-hundred day moving average is $16.30. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.09 and a current ratio of 2.09. The stock has a market cap of $4.55 billion, a P/E ratio of 6.69 and a beta of 5.42.

Marathon Digital (NASDAQ:MARAGet Free Report) last released its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The firm had revenue of $252.41 million during the quarter, compared to analyst estimates of $254.58 million. Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. On average, equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $11.99, for a total transaction of $329,784.95. Following the completion of the sale, the chief executive officer directly owned 3,582,994 shares of the company’s stock, valued at approximately $42,960,098.06. The trade was a 0.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $11.99, for a total transaction of $416,436.68. Following the completion of the transaction, the chief financial officer directly owned 283,298 shares in the company, valued at $3,396,743.02. This trade represents a 10.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 219,711 shares of company stock valued at $3,649,901. 0.80% of the stock is currently owned by insiders.

Institutional Trading of Marathon Digital

Institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management lifted its stake in shares of Marathon Digital by 2,407.4% in the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 1,300 shares during the period. Bessemer Group Inc. increased its holdings in Marathon Digital by 56.8% in the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 659 shares during the last quarter. Fifth Third Bancorp lifted its stake in Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after buying an additional 683 shares during the period. Estabrook Capital Management bought a new position in Marathon Digital during the second quarter worth about $31,000. Finally, Salomon & Ludwin LLC bought a new position in Marathon Digital during the third quarter worth about $47,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Company Profile

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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.

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