Marathon Digital Holdings Inc. (MARA): Technicals Say You should Hold

Marathon Digital Holdings Inc. (NASDAQ:MARA) saw an upside of 2.79% to close Friday at $39.49 after adding $1.07 on the day. The 5-day average trading volume is 10,085,760 shares of the company’s common stock. It has gained $39.98 in the past week. An average of 7,992,125 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 9,392,870.

MARA’s 1-month performance is 1.54% or $2.20 on its low of $30.55 reached on 09/29/21. The company’s shares have touched a 52-week low of $1.97 and high of $57.75, with the stock’s rally to the 52-week high happening on 04/06/21. YTD, MARA has achieved 278.26% or $29.05. However, the current price is down -31.62%% from the 52-week high price.


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Insider Transactions

On Apr 05, 189 days have gone by since the last insider trading activity for Marathon Digital Holdings Inc. (MARA). Salzman Simeon (CHIEF FINANCIAL OFFICER) most recently sold 15,000 shares at $53.38 per share on Apr 05. This transaction cost the insider $800,700. Director, BENZ PETER, sold 30,000 shares at a price of $46.40 on Feb 18. Then, on Feb 18, Chief Executive Officer OKAMOTO MERRICK D sold 700,000 shares at a price of $48.65 per share. This transaction amounted to $34,055,000.

Valuation Metrics

Marathon Digital Holdings Inc. (MARA) has a trailing price-to-earnings (P/E) ratio of 25.70 for the broader industry and 12.89 for the sector. The company’s PE ratio for the last five years has touched a high of 91.80 and a low of 31.91. MARA stock has a beta of 4.51. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 91.14 while the price-to-book (PB) in the most recent quarter is 6.76.

Marathon Digital Holdings Inc.’s quick ratio for the period ended June 29 was 147.00, with the current ratio over the same period at 147.00 meaning that MARA stock is able to fulfill its debt obligations. In terms of profitability, the gross margin trailing 12 months is 65.40%. The trailing 12-month EBITDA margin is -133.12%. The firm’s gross profit as reported stood at -$2.64 million against revenue of $4.36 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Marathon Digital Holdings Inc.’s cash and short-term investments amounted to $166.92 million. Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected MARA to announce $0.16 per share in earnings in its latest quarter, but it posted -$1.09, representing a -781.20% surprise. EBITDA for the quarter stood at more than $7.18 million. MARA stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 3.35 million. Shareholders hold equity totaling $99.63 million

Technical Picture

Let’s look briefly at Marathon Digital Holdings Inc. (MARA) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 October was 64.17% to suggest the stock is trending Neutral, with historical volatility in this time period at 82.95%.

The stock’s 5-day moving average is $37.54, reflecting a +19.05% or $6.32 change from its current price. MARA is currently trading +10.49% above its 20-day SMA, +71.77% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +43.70% and +182.68% respectively.

Stochastic %K and %D was 90.26% and 85.09% and the average true range (ATR) pointed at 2.48. The RSI (14) points at 59.46%, while the 14-day stochastic is at 94.80% with the period’s ATR at 2.56. The stock’s 9-day MACD Oscillator is pointing at 3.87 and 3.69 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Marathon Digital Holdings Inc. (NASDAQ: MARA), Compass Point launched coverage with a Buy rating. Analysts offering their rating for MARA stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate MARA as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 3 have offered a “buy” rating.

What is MARA’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $48.00 and a high of $87.00, with their median price target at $50.00. Looking at these predictions, the average price target given by analysts is for Marathon Digital Holdings Inc. (MARA) stock is $61.67.

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