Marathon Digital (NASDAQ:MARA) Stock Price Up 3.6% After Analyst Upgrade

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price traded up 3.6% on Tuesday after Piper Sandler raised their price target on the stock from $23.00 to $26.00. Piper Sandler currently has an overweight rating on the stock. Marathon Digital traded as high as $19.43 and last traded at $19.50. 12,358,059 shares were traded during trading, a decline of 72% from the average session volume of 44,806,354 shares. The stock had previously closed at $18.83.

MARA has been the topic of a number of other research reports. HC Wainwright restated a “buy” rating and set a $28.00 price objective on shares of Marathon Digital in a research note on Thursday, April 24th. Compass Point restated a “sell” rating and set a $9.50 price objective (down previously from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. Barclays boosted their price objective on Marathon Digital from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. JPMorgan Chase & Co. boosted their price objective on Marathon Digital from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, June 13th. Finally, Rosenblatt Securities boosted their price objective on Marathon Digital from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.28.

Insider Transactions at Marathon Digital

In other news, CFO Salman Hassan Khan sold 34,732 shares of the business’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $19.05, for a total value of $661,644.60. Following the sale, the chief financial officer owned 324,572 shares of the company’s stock, valued at approximately $6,183,096.60. The trade was a 9.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $19.52, for a total value of $536,897.60. Following the completion of the sale, the chief executive officer directly owned 3,946,504 shares in the company, valued at $77,035,758.08. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 262,090 shares of company stock valued at $4,270,591. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Several large investors have recently modified their holdings of MARA. Park Square Financial Group LLC acquired a new stake in shares of Marathon Digital in the fourth quarter worth $27,000. Sterling Capital Management LLC boosted its position in shares of Marathon Digital by 358.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider’s stock worth $31,000 after buying an additional 1,426 shares during the period. Fifth Third Bancorp boosted its position in shares of Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after buying an additional 683 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of Marathon Digital in the fourth quarter worth $50,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Marathon Digital by 211.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,500 shares of the business services provider’s stock worth $64,000 after buying an additional 2,375 shares during the period. 44.53% of the stock is owned by institutional investors.

Marathon Digital Trading Up 5.6%

The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $16.32 and a 200 day moving average price of $15.42. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of -13.71 and a beta of 6.53.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.06). Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The firm had revenue of $213.88 million for the quarter, compared to analysts’ expectations of $234.19 million. During the same quarter in the prior year, the business posted $1.26 earnings per share. Marathon Digital’s revenue was up 29.5% on a year-over-year basis. As a group, research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

About Marathon Digital

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.