Marathon Digital Holdings Inc. (NASDAQ:MARA) saw an upside of 4.31% to close Tuesday at $15.72 after adding $0.65 on the day. The 5-day average trading volume is 26,226,301 shares of the company’s common stock. It has gained $17.40 in the past week and touched a new high 1 time within the past 5 days. An average of 33,108,555 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 40,892,609.
MARA’s 1-month performance is -7.09% or $0.05 on its low of $14.15 reached on 08/07/23. The company’s shares have touched a 52-week low of $3.11 and high of $19.88, with the stock’s rally to the 52-week high happening on 07/14/23. YTD, MARA has achieved 359.65% or $12.30 and has reached a new high 29 times. However, the current price is down -20.91% from the 52-week high price.
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Valuation Metrics
MARA stock has a beta of 5.09. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 22.80 while the price-to-book (PB) in the most recent quarter is 4.58.
Marathon Digital Holdings Inc.’s quick ratio for the period ended March 30 was 16.20, with the current ratio over the same period at 16.20.. In terms of profitability, the gross margin trailing 12 months is -50.30%. The firm’s gross profit as reported stood at -$33.67 million against revenue of $117.75 million.
Earnings Surprise
For the quarterly period ending March 30 this year, Marathon Digital Holdings Inc.’s cash and short-term investments amounted to $11.93 million against total debt of $734.51 million. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 259.25% to -$7.24 million, while revenue of $74.38 million was 1127.35% off the previous quarter. Analysts expected MARA to announce -$0.08 per share in earnings in its latest quarter, but it posted -$0.05, representing a 37.50% surprise. EBITDA for the quarter stood at more than $14.85 million. MARA stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 758.06 million, with total debt at $734.51 million. Shareholders hold equity totaling $167.4 million.
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 August was 45.39% to suggest the stock is trending Neutral, with historical volatility in this time period at 61.00%.
The stock’s 5-day moving average is $15.93, reflecting a -6.60% or -$1.11 change from its current price. MARA is currently trading -9.60% above its 20-day SMA, +121.72% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +72.56% and SMA200 by+42.01%.
Stochastic %K and %D was 22.01% and 18.60% and the average true range (ATR) pointed at 1.26. The RSI (14) points at 50.05%, while the 14-day stochastic is at 39.75% with the period’s ATR at 1.27. The stock’s 9-day MACD Oscillator is pointing at -0.74 and -0.88 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Marathon Digital Holdings Inc. (NASDAQ: MARA), Chardan Capital Markets downgraded it to a Neutral rating. They previously had a Buy rating on the stock. Analysts offering their rating for MARA stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate MARA as a “sell,”, while 4 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 2 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 $8.00 and a high of $21.00, with their median price target at $15.00. Looking at these predictions, the average price target given by analysts is for Marathon Digital Holdings Inc. (MARA) stock is $14.60.
