Marathon Digital (NASDAQ:MARA) Trading Up 22.4% – Time to Buy?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares traded up 22.4% on Friday . The stock traded as high as $8.39 and last traded at $8.24. 81,764,811 shares traded hands during trading, an increase of 80% from the average session volume of 45,401,730 shares. The stock had previously closed at $6.73.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Piper Sandler reduced their target price on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Guggenheim initiated coverage on Marathon Digital in a report on Tuesday, October 21st. They set a “neutral” rating on the stock. Compass Point upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a report on Monday, November 24th. Weiss Ratings downgraded shares of Marathon Digital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. Finally, Rosenblatt Securities reduced their price target on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.44.

Marathon Digital Stock Performance

The firm’s fifty day moving average is $10.36 and its 200 day moving average is $14.35. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 4.58 and a beta of 5.56. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09.

Insider Transactions at Marathon Digital

In related news, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction on 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 directly owned 283,298 shares in the company, valued at approximately $3,396,743.02. This trade represents a 10.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Tuesday, January 20th. The shares were 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 trade represents a 0.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 178,092 shares of company stock valued at $2,153,321. 0.80% of the stock is owned by insiders.

Institutional Trading of Marathon Digital

A number of institutional investors have recently added to or reduced their stakes in MARA. Mizuho Markets Americas LLC increased its stake in shares of Marathon Digital by 11.0% during the 4th quarter. Mizuho Markets Americas LLC now owns 330,578 shares of the business services provider’s stock worth $2,969,000 after purchasing an additional 32,750 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Marathon Digital by 21.0% in the fourth quarter. Global Retirement Partners LLC now owns 20,941 shares of the business services provider’s stock worth $188,000 after purchasing an additional 3,640 shares in the last quarter. Handelsbanken Fonder AB acquired a new position in Marathon Digital during the fourth quarter worth $831,000. ProShare Advisors LLC raised its holdings in Marathon Digital by 3.7% during the fourth quarter. ProShare Advisors LLC now owns 73,509 shares of the business services provider’s stock valued at $660,000 after buying an additional 2,593 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in Marathon Digital by 3.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 86,513 shares of the business services provider’s stock valued at $777,000 after buying an additional 3,015 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.