Marathon Digital (NASDAQ:MARA) Trading 9.2% Higher – Should You Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price shot up 9.2% during trading on Friday . The company traded as high as $8.08 and last traded at $7.92. 50,673,534 shares traded hands during mid-day trading, an increase of 9% from the average session volume of 46,441,820 shares. The stock had previously closed at $7.25.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MARA shares. Weiss Ratings downgraded Marathon Digital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, February 5th. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Monday, November 24th. Piper Sandler lowered their price objective on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. Morgan Stanley began coverage on shares of Marathon Digital in a research report on Monday, February 9th. They set an “underweight” rating and a $8.00 target price for the company. Finally, Macquarie Infrastructure lifted their target price on shares of Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.00.

Marathon Digital Price Performance

The business has a fifty day moving average of $9.93 and a 200-day moving average of $14.02. 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 firm has a market cap of $3.00 billion, a PE ratio of 4.40 and a beta of 5.56.

Insider Buying and Selling at Marathon Digital

In related news, CFO Salman Hassan Khan sold 34,732 shares of the business’s 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 transaction, the chief financial officer directly owned 283,298 shares in the company, valued at $3,396,743.02. The trade was a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’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 completion of the transaction, the chief executive officer owned 3,517,566 shares in the company, valued at $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. Over the last three months, insiders sold 151,979 shares of company stock valued at $1,738,228. Insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC increased its position in shares of 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 purchasing an additional 991 shares during the last quarter. NewEdge Advisors LLC increased its holdings 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 buying an additional 3,032 shares during the last quarter. United Services Automobile Association increased its holdings 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 worth $257,000 after buying an additional 1,569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Marathon Digital by 11.0% during 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 buying an additional 63,903 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Marathon Digital by 375.4% during the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock worth $40,000 after acquiring an additional 2,001 shares during the last quarter. 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.