Marathon Digital (NASDAQ:MARA) Issues Earnings Results, Beats Expectations By $0.03 EPS

Marathon Digital (NASDAQ:MARA) issued its quarterly earnings data on Tuesday. The business services provider reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.03, Zacks reports. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.

Marathon Digital Stock Performance

Shares of NASDAQ:MARA traded down $1.19 during trading on Tuesday, hitting $16.62. The stock had a trading volume of 51,503,993 shares, compared to its average volume of 46,393,594. Marathon Digital has a 12-month low of $9.81 and a 12-month high of $30.28. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 14.97 and a beta of 6.33. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. The stock has a 50-day simple moving average of $18.07 and a two-hundred day simple moving average of $16.63.

Wall Street Analysts Forecast Growth

MARA has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Digital in a report on Wednesday, October 8th. Guggenheim initiated coverage on Marathon Digital in a report on Tuesday, October 21st. They issued a “neutral” rating for the company. BTIG Research reissued a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a report on Friday, September 5th. Piper Sandler raised their price target on Marathon Digital from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Finally, Macquarie raised their price target on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Marathon Digital has a consensus rating of “Moderate Buy” and an average price target of $24.20.

Insider Transactions at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $19.57, for a total value of $538,272.85. Following the completion of the transaction, the chief executive officer directly owned 3,718,700 shares in the company, valued at $72,774,959. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $16.24, for a total value of $564,047.68. Following the completion of the transaction, the chief financial officer owned 318,428 shares of the company’s stock, valued at approximately $5,171,270.72. The trade was a 9.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 204,598 shares of company stock worth $3,616,374 over the last three months. 0.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MARA. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Marathon Digital by 144.1% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,003,747 shares of the business services provider’s stock valued at $15,739,000 after acquiring an additional 592,493 shares in the last quarter. State Street Corp increased its position in shares of Marathon Digital by 1.4% in the second quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock valued at $210,977,000 after buying an additional 191,380 shares in the last quarter. Vident Advisory LLC increased its position in shares of Marathon Digital by 19.5% in the second quarter. Vident Advisory LLC now owns 830,908 shares of the business services provider’s stock valued at $13,029,000 after buying an additional 135,726 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Marathon Digital by 11.5% in the second quarter. Public Sector Pension Investment Board now owns 1,199,829 shares of the business services provider’s stock valued at $18,813,000 after buying an additional 123,539 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Marathon Digital by 6.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,967,777 shares of the business services provider’s stock valued at $30,852,000 after buying an additional 119,741 shares in the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

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.