Marathon Digital (NASDAQ:MARA) Trading Up 3% – What’s Next?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price traded up 3% on Tuesday . The company traded as high as $16.31 and last traded at $15.96. 12,232,771 shares were traded during mid-day trading, a decline of 77% from the average session volume of 53,296,012 shares. The stock had previously closed at $15.50.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MARA shares. Macquarie initiated coverage on shares of Marathon Digital in a research note on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research report on Thursday, October 10th. B. Riley raised their price target on Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Finally, Cantor Fitzgerald initiated coverage on shares of Marathon Digital in a report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Marathon Digital currently has an average rating of “Hold” and a consensus price target of $21.43.

Marathon Digital Trading Down 0.1 %

The company has a 50 day moving average price of $16.49 and a two-hundred day moving average price of $18.43. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 12.19 and a beta of 5.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75.

Insider Buying and Selling at Marathon Digital

In other 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 completion of the sale, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital stock in a transaction on 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 owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of the company’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 sale, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at $67,169,451.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 91,417 shares of company stock valued at $1,516,536 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC raised its holdings in shares of Marathon Digital by 9.3% during the 1st quarter. Private Advisor Group LLC now owns 40,203 shares of the business services provider’s stock worth $908,000 after acquiring an additional 3,421 shares during the period. Mutual of America Capital Management LLC purchased a new position in Marathon Digital in the first quarter valued at $1,205,000. Jennison Associates LLC grew its stake in Marathon Digital by 34.3% during the 1st quarter. Jennison Associates LLC now owns 28,514 shares of the business services provider’s stock worth $644,000 after purchasing an additional 7,280 shares in the last quarter. ClariVest Asset Management LLC increased its holdings in Marathon Digital by 156.4% during the 1st quarter. ClariVest Asset Management LLC now owns 84,241 shares of the business services provider’s stock worth $1,902,000 after purchasing an additional 51,380 shares during the period. Finally, Swiss National Bank raised its position in Marathon Digital by 5.4% in the 1st quarter. Swiss National Bank now owns 439,600 shares of the business services provider’s stock valued at $9,926,000 after purchasing an additional 22,600 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.