Marathon Digital (NASDAQ:MARA) Trading Up 9.2%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price was up 9.2% during trading on Wednesday . The stock traded as high as $10.13 and last traded at $10.01. Approximately 32,406,504 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 35,391,590 shares. The stock had previously closed at $9.17.

Analyst Ratings Changes

Several analysts recently issued reports on MARA shares. JPMorgan Chase & Co. initiated coverage on Marathon Digital in a research note on Wednesday, October 11th. They issued an “underweight” rating and a $5.00 price target for the company. B. Riley raised their price target on shares of Marathon Digital from $8.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, August 10th. StockNews.com raised shares of Marathon Digital to a “sell” rating in a report on Thursday, November 2nd. Sanford C. Bernstein began coverage on shares of Marathon Digital in a report on Tuesday, October 31st. They set a “market perform” rating and a $8.30 target price on the stock. Finally, Chardan Capital cut Marathon Digital from a “buy” rating to a “neutral” rating and set a $15.00 price target for the company. in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.91.

Marathon Digital Trading Down 4.7 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 11.33 and a quick ratio of 11.33. The firm has a 50 day moving average of $8.88 and a two-hundred day moving average of $11.29.

Insider Activity at Marathon Digital

In other news, Director Ashu Swami sold 11,000 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $13.80, for a total value of $151,800.00. Following the completion of the transaction, the director now directly owns 7,491 shares in the company, valued at approximately $103,375.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Marathon Digital news, Director Ashu Swami sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $13.80, for a total value of $151,800.00. Following the completion of the transaction, the director now directly owns 7,491 shares in the company, valued at approximately $103,375.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Said Ouissal sold 15,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $10.95, for a total value of $164,250.00. Following the completion of the sale, the director now owns 15,217 shares of the company’s stock, valued at $166,626.15. The disclosure for this sale can be found here. 1.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marathon Digital

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Holdings Inc. increased its holdings in Marathon Digital by 68.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 7,353 shares of the business services provider’s stock worth $25,000 after purchasing an additional 2,984 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Marathon Digital by 96.8% during the 2nd quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 2,641 shares during the period. Smith Anglin Financial LLC bought a new position in Marathon Digital during the fourth quarter worth $34,000. Cetera Advisors LLC acquired a new stake in Marathon Digital in the fourth quarter worth $36,000. Finally, Salem Investment Counselors Inc. increased its stake in Marathon Digital by 80.0% in the second quarter. Salem Investment Counselors Inc. now owns 2,700 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 39.02% 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 blockchain ecosystem and the generation of digital assets 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.