Marathon Digital (NASDAQ:MARA) Trading 4.4% Higher – Should You Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price rose 4.4% during trading on Monday . The company traded as high as $13.53 and last traded at $12.95. Approximately 30,490,996 shares were traded during trading, a decline of 33% from the average daily volume of 45,425,047 shares. The stock had previously closed at $12.40.

Wall Street Analysts Forecast Growth

MARA has been the topic of a number of recent research reports. Morgan Stanley lowered their price target on shares of Marathon Digital from $7.00 to $5.50 and set an “underweight” rating for the company in a report on Wednesday. Citizens Jmp assumed coverage on shares of Marathon Digital in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $24.00 price objective on the stock. Weiss Ratings cut shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. BTIG Research reiterated a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research note on Monday, June 1st. Finally, Cantor Fitzgerald dropped 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. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Marathon Digital presently has an average rating of “Moderate Buy” and a consensus price target of $18.83.

Marathon Digital Trading Down 0.2%

The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $4.58 billion, a PE ratio of -2.10 and a beta of 5.36. The business’s 50-day moving average is $13.35 and its two-hundred day moving average is $10.77.

Insider Activity

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,000 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total value of $228,000.00. Following the completion of the transaction, the chief financial officer owned 409,066 shares in the company, valued at approximately $5,829,190.50. This represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 7,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total value of $99,750.00. Following the completion of the sale, the general counsel directly owned 963,768 shares of the company’s stock, valued at approximately $13,733,694. This trade represents a 0.72% 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. Insiders sold 194,855 shares of company stock worth $2,465,975 in the last ninety days. 0.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MARA. Ascentis Independent Advisors acquired a new position in Marathon Digital in the 1st quarter valued at $28,000. Bogart Wealth LLC increased its stake in Marathon Digital by 4,345.1% during the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock worth $33,000 after acquiring an additional 3,954 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Marathon Digital during the fourth quarter worth about $36,000. Hantz Financial Services Inc. raised its holdings in shares of Marathon Digital by 344.8% in the 4th quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock worth $45,000 after purchasing an additional 3,893 shares during the period. Finally, CoreCap Advisors LLC raised its holdings in shares of Marathon Digital by 128.0% in the 2nd quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider’s stock worth $51,000 after purchasing an additional 2,050 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Company Profile

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.