Marathon Digital (NASDAQ:MARA) Stock Price Up 11.3% Following Analyst Upgrade

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price was up 11.3% during trading on Monday after Compass Point upgraded the stock from a neutral rating to a buy rating. Compass Point now has a $30.00 price target on the stock. Marathon Digital traded as high as $11.28 and last traded at $11.21. Approximately 52,955,055 shares changed hands during mid-day trading, an increase of 14% from the average daily volume of 46,572,457 shares. The stock had previously closed at $10.07.

Several other research analysts have also commented on the company. Macquarie lifted their price target on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. BTIG Research reiterated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a report on Friday, September 5th. JPMorgan Chase & Co. decreased their price target on Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, September 26th. Rosenblatt Securities lowered their price target 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. Finally, Cantor Fitzgerald cut their price objective on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 34,732 shares of the business’s stock in a transaction on Monday, November 17th. The shares were 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 directly owned 283,298 shares of the company’s stock, valued at approximately $3,396,743.02. The trade was a 10.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Zabi Nowaid sold 25,113 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $15.87, for a total transaction of $398,543.31. Following the completion of the transaction, the general counsel directly owned 723,136 shares in the company, valued at $11,476,168.32. This represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 234,598 shares of company stock worth $3,876,481 in the last 90 days. 0.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Marathon Digital

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of 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 acquiring an additional 4,049,979 shares in the last quarter. State Street Corp increased its holdings in Marathon Digital by 1.4% during the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock worth $210,977,000 after purchasing an additional 191,380 shares during the period. UBS Group AG increased its holdings in Marathon Digital by 104.1% during the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after purchasing an additional 6,172,110 shares during the period. Geode Capital Management LLC raised its position in Marathon Digital by 3.5% during the 2nd quarter. Geode Capital Management LLC now owns 9,225,303 shares of the business services provider’s stock valued at $144,669,000 after purchasing an additional 315,499 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Marathon Digital by 7.8% in the 2nd quarter. American Century Companies Inc. now owns 6,781,198 shares of the business services provider’s stock worth $106,329,000 after buying an additional 491,245 shares during the period. 44.53% of the stock is owned by hedge funds and other institutional investors.

Marathon Digital Stock Up 11.3%

The firm has a market cap of $4.24 billion, a P/E ratio of 10.10 and a beta of 6.40. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $17.33 and a 200-day moving average price of $16.57.

Marathon Digital (NASDAQ:MARA) last released 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). Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The firm had revenue of $252.41 million during the quarter, compared to the consensus estimate of $254.58 million. On average, equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Marathon Digital Company Profile

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.