Marathon Digital (NASDAQ:MARA) Trading Up 5.1% – Should You Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) was up 5.1% during mid-day trading on Friday . The company traded as high as $10.22 and last traded at $10.18. Approximately 53,195,293 shares traded hands during mid-day trading, an increase of 15% from the average daily volume of 46,251,316 shares. The stock had previously closed at $9.69.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MARA shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Marathon Digital in a research report on Monday. Macquarie lifted their price objective on Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Rosenblatt Securities cut their target price on Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. BTIG Research reissued a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a report on Friday, September 5th. Finally, JPMorgan Chase & Co. dropped their price target on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.56.

Marathon Digital Stock Up 5.1%

The firm has a 50 day moving average of $14.81 and a two-hundred day moving average of $16.04. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 5.66 and a beta of 5.42. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63.

Marathon Digital (NASDAQ:MARA) last issued its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Marathon Digital had a negative return on equity of 2.59% and a net margin of 100.82%.The business had revenue of $252.41 million for the quarter, compared to analyst estimates of $254.58 million. As a group, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Transactions at Marathon Digital

In other news, General Counsel Zabi Nowaid sold 25,113 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $15.87, for a total value of $398,543.31. Following the completion of the transaction, the general counsel directly owned 723,136 shares in the company, valued at approximately $11,476,168.32. This represents a 3.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $11.99, for a total value of $329,784.95. Following the sale, the chief executive officer owned 3,582,994 shares in the company, valued at $42,960,098.06. This represents a 0.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 191,206 shares of company stock worth $2,990,440. Corporate insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Marathon Digital

Several large investors have recently modified their holdings of MARA. Hollencrest Capital Management raised its position in Marathon Digital by 2,407.4% during the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock worth $25,000 after purchasing an additional 1,300 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after buying an additional 683 shares during the period. Estabrook Capital Management bought a new position in shares of Marathon Digital during the second quarter worth about $31,000. Bessemer Group Inc. lifted its stake in shares of Marathon Digital by 56.8% in the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after acquiring an additional 659 shares during the period. Finally, IFP Advisors Inc boosted its holdings in Marathon Digital by 375.4% in the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 2,001 shares during the last quarter. 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.