Marathon Digital (NASDAQ:MARA) Stock Price Up 11.9% – Time to Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price was up 11.9% on Monday . The stock traded as high as $13.97 and last traded at $13.78. Approximately 32,466,562 shares were traded during trading, a decline of 29% from the average daily volume of 45,781,035 shares. The stock had previously closed at $12.32.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MARA shares. Morgan Stanley lowered their target price on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a report on Tuesday, May 19th. Cantor Fitzgerald lowered their target price on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Weiss Ratings lowered shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. BTIG Research restated a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research note on Monday, June 1st. Finally, Rosenblatt Securities boosted their price objective on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Marathon Digital has an average rating of “Hold” and an average target price of $18.38.

Marathon Digital Price Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of -2.41 and a beta of 5.38. The business has a fifty day moving average of $11.66 and a two-hundred day moving average of $10.41.

Insider Activity at Marathon Digital

In related news, General Counsel Zabi Nowaid sold 8,250 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $12.00, for a total value of $99,000.00. Following the completion of the sale, the general counsel directly owned 970,768 shares in the company, valued at $11,649,216. The trade was a 0.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $12.00, for a total value of $330,060.00. Following the completion of the sale, the chief executive officer owned 4,589,514 shares of the company’s stock, valued at $55,074,168. This trade represents a 0.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 180,855 shares of company stock worth $2,033,654 in the last ninety days. 0.80% of the stock is owned by company insiders.

Institutional Trading of Marathon Digital

Several institutional investors have recently added to or reduced their stakes in MARA. Ascentis Independent Advisors bought a new stake in Marathon Digital in the 1st quarter valued at $28,000. Bessemer Group Inc. boosted its stake in Marathon Digital by 56.8% in the 3rd 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 period. Bogart Wealth LLC boosted its stake in Marathon Digital by 4,345.1% in the 1st quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 3,954 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in shares of Marathon Digital during the 4th quarter valued at $36,000. Finally, Hantz Financial Services Inc. lifted its position in shares of Marathon Digital by 344.8% during the 4th quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 3,893 shares during the period. 44.53% of the stock is currently owned by institutional investors.

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.