The stock of Marathon Digital Holdings Inc. (NASDAQ:MARA) increased by $0.11 on Monday to finish at $14.99, up 0.74 percent. The last five days have seen an average of 24,482,980 shares of common stock traded. 29 times new highs were reached in the current year, with a gain of $11.57. The average number of shares traded over the last 20 days was 26,799,590, while the average volume over the last 50 days totaled 40,117,230.
MARA stock dropped -17.04% since last month. On 08/14/23, the company’s shares reached a one-month low of $14.11. The stock touched a high of $19.88 on 07/14/23, after rallying from a low of $3.11 in 52 weeks. The price of MARA stock has risen by 338.30% or $11.57 this year, reaching a new high 29 times. Still, the stock price is down -24.58% from the 52-week high.
Insider Transactions
MARA stock investors should be aware that Marathon Digital Holdings Inc. (MARA) stock had its last reported insider trading activity 230 days ago on Dec 28. On Dec 28, Director MELLINGER DOUGLAS K acquired 10,000 shares at $3.27 each. This transaction resulted in the insider spending $32,700. On Dec 19, MELLINGER DOUGLAS K added 10,000 shares at a price of US$3.84. After the transaction, the insider now owns 18,771 shares. CEO Thiel Frederick G had earlier bought 5,000 shares on Dec 16 for $3.82 a share. The transaction was completed for $19,100.
Valuation Metrics
Beta for the stock is 5.09. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 15.01, the price-to-book (PB) ratio of 4.25.
Financial Health
For the three months ended June 29, Marathon Digital Holdings Inc.’s quick ratio was 14.90, while its current ratio was 14.90, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.23, and the total debt to equity ratio is 1.23. As far as profitability goes, gross margin for the trailing twelve months is -30.60% percent. Based on annual data, it had gross profit of -$33.67 million and revenue of $117.75 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. MARA’s return on assets (ROA) during the last 12 months has been -38.20%. There was a -64.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -94.90%.
Earnings Surprise
According to Marathon Digital Holdings Inc.’s quarterly financial report for the quarter that ended June 29, it had $734.23 million in total debt versus $7.51 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $81.76 million, while revenues rose by 36.74% to $51.13 million. It was predicted that Marathon Digital Holdings Inc.’s quarterly earnings would be -$0.13, but it ended up being -$0.07, beating the consensus by -85.70%. EBITDA was $22.01 million for the quarter. At the end of Marathon Digital Holdings Inc.’s most recent quarter ended June 29, its liabilities totaled 778.74 million, while its total debt was $734.83 million. Equity owned by shareholders amounts to $174.27 million.
Technical Picture
Here’s a quick look at Marathon Digital Holdings Inc.’s (MARA) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 41.33%, suggesting the stock is Neutral, with a 51.95% historical volatility rate.
The stochastic %K and %D were 18.32% and 23.50% respectively, while the average true range (ATR) was 1.23. Based on the 14-day stochastic reading of 23.91%, the RSI (14) reading is 46.33%. On the 9-day MACD Oscillator, the stock is at -0.70, and the 14-day reading is at -1.14.
Analyst Ratings
Marathon Digital Holdings Inc. (NASDAQ: MARA) was downgraded by Chardan Capital Markets to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned Marathon Digital Holdings Inc. (MARA) an Overweight rating. MARA is a stock that is recommended for selling by 0 brokerage firms, while 4 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 3 others recommend it as a buy.
What is MARA’s price target for the next 12 months?
The current consensus forecast for the stock is between $9.00 and $20.00, with a median target price of $15.00. In analyzing these forecasts, the average price target given by analysts for Marathon Digital Holdings Inc. (MARA) is $15.00.
