Marathon Digital (NASDAQ:MARA) Trading 1.5% Higher – What’s Next?

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded up 1.5% during trading on Wednesday . The company traded as high as $11.46 and last traded at $11.11. 56,236,534 shares were traded during mid-day trading, an increase of 44% from the average session volume of 38,940,305 shares. The stock had previously closed at $10.95.

Analyst Ratings Changes

MARA has been the subject of several recent analyst reports. Rosenblatt Securities dropped their price objective 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. Cantor Fitzgerald decreased their price target on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Marathon Digital in a research report on Monday, December 29th. Compass Point upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Monday, November 24th. Finally, Piper Sandler decreased their target price on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Marathon Digital has an average rating of “Moderate Buy” and a consensus price target of $22.44.

Marathon Digital Stock Performance

The company’s 50-day simple moving average is $11.40 and its 200-day simple moving average is $15.39. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 6.17 and a beta of 5.34. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.63.

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

Insider Transactions at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,505 shares of the business’s 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 in the company, valued at approximately $38,292,616.53. The trade was a 0.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $11.99, for a total transaction of $416,436.68. Following the sale, the chief financial officer owned 283,298 shares of the company’s stock, valued at approximately $3,396,743.02. This trade represents a 10.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 182,979 shares of company stock worth $2,476,153 over the last ninety days. 0.80% of the stock is owned by insiders.

Institutional Trading of Marathon Digital

A number of institutional investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. bought a new position in shares of Marathon Digital in the 4th quarter worth about $260,000. Exchange Traded Concepts LLC grew its stake in Marathon Digital by 47.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,539,210 shares of the business services provider’s stock worth $13,822,000 after purchasing an additional 494,161 shares during the period. Generali Investments CEE investicni spolecnost a.s. increased its holdings in Marathon Digital by 31.4% in the fourth quarter. Generali Investments CEE investicni spolecnost a.s. now owns 177,234 shares of the business services provider’s stock worth $1,592,000 after purchasing an additional 42,305 shares in the last quarter. Synergy Asset Management LLC acquired a new position in Marathon Digital in the fourth quarter valued at approximately $132,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Marathon Digital by 16.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,774 shares of the business services provider’s stock worth $258,000 after buying an additional 4,017 shares in 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.