Marathon Digital (NASDAQ:MARA) Trading 7.3% Higher – Should You Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares were up 7.3% during trading on Wednesday . The stock traded as high as $9.55 and last traded at $9.29. Approximately 60,916,972 shares traded hands during mid-day trading, an increase of 28% from the average daily volume of 47,701,949 shares. The stock had previously closed at $8.66.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MARA. Cantor Fitzgerald cut their price target on Marathon Digital from $21.00 to $11.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Piper Sandler decreased their price objective on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Weiss Ratings upgraded Marathon Digital from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, February 20th. Morgan Stanley started coverage on shares of Marathon Digital in a research report on Monday, February 9th. They issued an “underweight” rating and a $8.00 price target for the company. Finally, HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Marathon Digital currently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Marathon Digital Price Performance

The stock has a market cap of $3.05 billion, a P/E ratio of -2.02 and a beta of 5.51. The company has a quick ratio of 2.09, a current ratio of 1.27 and a debt-to-equity ratio of 0.92. The business’s 50-day simple moving average is $9.25 and its two-hundred day simple moving average is $13.31.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Thursday, February 26th. The business services provider reported ($4.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($4.29). Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. The company had revenue of $202.31 million for the quarter, compared to the consensus estimate of $250.74 million. During the same quarter in the previous year, the firm posted $1.24 earnings per share. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. Sell-side analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Buying and Selling at Marathon Digital

In other news, CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $7.66, for a total transaction of $122,560.00. Following the completion of the transaction, the chief financial officer owned 359,165 shares of the company’s stock, valued at approximately $2,751,203.90. The trade was a 4.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $7.66, for a total transaction of $210,688.30. Following the completion of the sale, the chief executive officer directly owned 3,381,861 shares in the company, valued at $25,905,055.26. This represents a 0.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 133,247 shares of company stock valued at $1,325,255 in the last three months. 0.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marathon Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of MARA. Vanguard Group Inc. raised its position in shares of Marathon Digital by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock valued at $419,422,000 after buying an additional 1,394,559 shares in the last quarter. State Street Corp raised its position in Marathon Digital by 1.4% during 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 purchasing an additional 191,380 shares in the last quarter. UBS Group AG raised its position in Marathon Digital by 104.1% during the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock valued at $220,922,000 after purchasing an additional 6,172,110 shares in the last quarter. Marex Group plc lifted its stake in Marathon Digital by 2.6% during the fourth quarter. Marex Group plc now owns 10,137,713 shares of the business services provider’s stock worth $91,037,000 after purchasing an additional 259,210 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Marathon Digital by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock worth $89,434,000 after purchasing an additional 251,674 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.