Marathon Digital (NASDAQ:MARA) Shares Up 3.6% – What’s Next?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) was up 3.6% during mid-day trading on Thursday . The stock traded as high as $10.68 and last traded at $10.44. Approximately 30,913,383 shares changed hands during trading, a decline of 15% from the average daily volume of 36,558,094 shares. The stock had previously closed at $10.08.

Analyst Upgrades and Downgrades

MARA has been the topic of a number of research reports. Macquarie raised their price objective on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of Marathon Digital in a report on Monday, December 29th. Cantor Fitzgerald reduced their price target on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Guggenheim initiated coverage on shares of Marathon Digital in a research report on Tuesday, October 21st. They issued a “neutral” rating for the company. Finally, Rosenblatt Securities reduced their target price on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.56.

Marathon Digital Trading Down 2.1%

The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 5.68 and a beta of 5.34. The business’s 50-day moving average price is $11.65 and its 200 day moving average price is $15.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. The firm had revenue of $252.41 million for the quarter, compared to analyst estimates of $254.58 million. On average, equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $11.48, for a total transaction of $398,723.36. Following the sale, the chief financial officer directly owned 248,566 shares in the company, valued at $2,853,537.68. The trade was a 12.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $10.77, for a total value of $296,228.85. Following the transaction, the chief executive officer owned 3,555,489 shares of the company’s stock, valued at approximately $38,292,616.53. This trade represents a 0.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 217,711 shares of company stock worth $3,265,959 in the last three months. 0.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its stake in Marathon Digital by 56.8% in the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after buying an additional 659 shares during the last quarter. Fifth Third Bancorp lifted its position in Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 683 shares during the last quarter. CX Institutional boosted its stake in Marathon Digital by 12.6% during the 2nd quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 749 shares during the period. Archer Investment Corp boosted its stake in Marathon Digital by 10.9% during the 2nd quarter. Archer Investment Corp now owns 7,650 shares of the business services provider’s stock valued at $120,000 after purchasing an additional 750 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Marathon Digital by 15.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider’s stock worth $108,000 after purchasing an additional 799 shares during the last quarter. 44.53% of the stock is 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.