Marathon Digital (NASDAQ:MARA) Stock Price Up 5.7% – What’s Next?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price rose 5.7% on Monday . The company traded as high as $9.84 and last traded at $9.45. Approximately 69,979,331 shares traded hands during mid-day trading, an increase of 48% from the average daily volume of 47,273,281 shares. The stock had previously closed at $8.94.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Weiss Ratings upgraded shares of Marathon Digital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, February 20th. Rosenblatt Securities cut their price objective on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. 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 report on Wednesday, January 14th. Compass Point upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Monday, November 24th. Finally, Cantor Fitzgerald reduced their price objective on Marathon Digital from $21.00 to $11.00 and set an “overweight” rating on the stock in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Marathon Digital Price Performance

The stock has a market cap of $3.57 billion, a PE ratio of -2.39 and a beta of 5.56. The business’s 50-day simple moving average is $9.33 and its 200-day simple moving average is $13.46. 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 posted its earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($4.29). Marathon Digital had a negative return on equity of 17.88% and a negative net margin of 144.58%.The firm had revenue of $202.31 million for the quarter, compared to analysts’ expectations of $250.74 million. During the same quarter in the prior year, the company posted $1.24 earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,732 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $11.48, for a total value of $398,723.36. Following the completion of the transaction, the chief financial officer directly owned 248,566 shares in the company, valued at approximately $2,853,537.68. This represents a 12.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $10.80, for a total transaction of $297,054.00. Following the completion of the sale, the chief executive officer directly owned 3,517,566 shares of the company’s stock, valued at approximately $37,989,712.80. This represents a 0.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 133,247 shares of company stock valued at $1,325,255. 0.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marathon Digital

Institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC lifted its holdings in Marathon Digital by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after buying an additional 991 shares during the period. NewEdge Advisors LLC raised its position in shares of Marathon Digital by 65.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock worth $88,000 after acquiring an additional 3,032 shares in the last quarter. United Services Automobile Association lifted its stake in shares of Marathon Digital by 8.2% in the 1st quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock valued at $257,000 after purchasing an additional 1,569 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Marathon Digital by 11.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider’s stock valued at $7,398,000 after purchasing an additional 63,903 shares during the period. Finally, AlphaQuest LLC boosted its position in shares of Marathon Digital by 16.9% during the second quarter. AlphaQuest LLC now owns 8,913 shares of the business services provider’s stock valued at $140,000 after purchasing an additional 1,289 shares in the last quarter. 44.53% of the stock is owned by institutional investors.

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.