Marathon Digital (NASDAQ:MARA) Shares Up 5.4% – What’s Next?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares shot up 5.4% on Tuesday . The company traded as high as $10.60 and last traded at $10.52. 37,880,918 shares changed hands during trading, a decline of 9% from the average session volume of 41,662,500 shares. The stock had previously closed at $9.98.

Wall Street Analysts Forecast Growth

MARA has been the subject of several analyst reports. Guggenheim initiated coverage on shares of Marathon Digital in a research note on Tuesday, October 21st. They issued a “neutral” rating for the company. Piper Sandler dropped their price target on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. Rosenblatt Securities cut their price objective on Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Monday, November 24th. Finally, JPMorgan Chase & Co. lowered their target price on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.44.

Marathon Digital Stock Performance

The company’s fifty day moving average is $10.72 and its 200 day moving average is $14.97. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $3.98 billion, a P/E ratio of 5.84 and a beta of 5.34.

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

Insider Buying and Selling at Marathon Digital

In other news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $11.99, for a total transaction of $416,436.68. Following the completion of the sale, the chief financial officer owned 283,298 shares in the company, valued at approximately $3,396,743.02. This trade represents a 10.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $10.80, for a total value of $297,054.00. Following the transaction, the chief executive officer directly owned 3,517,566 shares of the company’s stock, valued at $37,989,712.80. The trade was a 0.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 182,979 shares of company stock valued at $2,234,934 in the last quarter. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marathon Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of MARA. UBS Group AG increased its holdings in shares of Marathon Digital by 104.1% in the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after buying an additional 6,172,110 shares during the last quarter. Marex Group plc purchased a new position in Marathon Digital in the second quarter worth $84,301,000. Voloridge Investment Management LLC bought a new position in Marathon Digital in the third quarter valued at $93,066,000. Vanguard Group Inc. raised its position in Marathon Digital by 9.8% during the third quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock valued at $827,392,000 after purchasing an additional 4,049,979 shares in the last quarter. Finally, Norges Bank purchased a new stake in Marathon Digital during the second quarter valued at about $59,255,000. 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.