Marathon Digital (NASDAQ:MARA) Shares Up 1%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price traded up 1% during mid-day trading on Friday . The stock traded as high as $17.92 and last traded at $17.70. 13,372,395 shares changed hands during trading, a decline of 76% from the average session volume of 55,218,941 shares. The stock had previously closed at $17.52.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Macquarie started coverage on Marathon Digital in a report on Tuesday. They issued an “outperform” rating and a $22.00 price objective for the company. B. Riley boosted their price target on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, July 12th. JPMorgan Chase & Co. dropped their price objective on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Digital has a consensus rating of “Hold” and a consensus price target of $19.61.

Marathon Digital Stock Down 0.5 %

The firm has a market cap of $4.93 billion, a PE ratio of 8.23 and a beta of 5.51. The business’s 50 day moving average price is $17.19 and its 200 day moving average price is $18.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.49). The business had revenue of $145.14 million during the quarter, compared to analysts’ expectations of $157.86 million. Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The business’s quarterly revenue was up 77.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) earnings per share. On average, equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current year.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the sale, the chief financial officer now directly owns 2,103,347 shares in the company, valued at $33,022,547.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $15.70, for a total value of $262,190.00. Following the sale, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at approximately $33,022,547.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the transaction, the chief executive officer now owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. The disclosure for this sale can be found here. Insiders have sold 46,212 shares of company stock worth $726,178 over the last quarter. 1.11% of the stock is currently owned by company insiders.

Institutional Trading of Marathon Digital

Institutional investors and hedge funds have recently bought and sold shares of the business. Beaird Harris Wealth Management LLC lifted its holdings in shares of Marathon Digital by 121.1% during the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after purchasing an additional 695 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in shares of Marathon Digital in the 1st quarter worth $90,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Marathon Digital in the first quarter valued at about $105,000. GAMMA Investing LLC raised its holdings in Marathon Digital by 108.0% during the second quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock worth $136,000 after purchasing an additional 3,565 shares in the last quarter. Finally, Natixis acquired a new stake in Marathon Digital in the first quarter valued at about $177,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

About Marathon Digital

Marathon Digital 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 Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.