Marathon Digital (NASDAQ:MARA) Stock Price Up 3.3% – Time to Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price shot up 3.3% during mid-day trading on Monday . The stock traded as high as $15.32 and last traded at $14.85. 51,135,824 shares were traded during mid-day trading, an increase of 11% from the average session volume of 46,260,820 shares. The stock had previously closed at $14.38.

Wall Street Analyst Weigh In

MARA has been the subject of several research analyst reports. Weiss Ratings cut Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Cantor Fitzgerald lowered their target price on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Rosenblatt Securities lifted their price target on Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Finally, BTIG Research restated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research note on Monday. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.38.

Marathon Digital Trading Down 3.8%

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. The company’s 50 day moving average is $11.24 and its two-hundred day moving average is $10.38. The firm has a market cap of $5.44 billion, a P/E ratio of -2.50 and a beta of 5.38.

Insider Transactions at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,505 shares of the firm’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 $330,060.00. Following the completion of the transaction, the chief executive officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 8,250 shares of Marathon Digital stock in a transaction on Monday, May 18th. The stock was sold at an average price of $12.00, for a total transaction of $99,000.00. Following the sale, the general counsel owned 970,768 shares in the company, valued at $11,649,216. This represents a 0.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 180,855 shares of company stock valued at $2,033,654. 0.80% of the stock is owned by corporate insiders.

Institutional Trading of Marathon Digital

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Marathon Digital by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock valued at $419,422,000 after acquiring an additional 1,394,559 shares during the period. State Street Corp boosted its holdings 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 boosted its holdings 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 grew its stake in shares of Marathon Digital by 2.6% in the 4th quarter. Marex Group plc now owns 10,137,713 shares of the business services provider’s stock valued at $91,037,000 after purchasing an additional 259,210 shares during the period. Finally, Geode Capital Management LLC raised 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 buying an additional 251,674 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.