As of Thursday close, Marathon Digital Holdings Inc.’s (NASDAQ:MARA) stock was down -$1.25, moving down -9.26 percent to $12.25. The average number of shares traded per day over the past five days has been 25,071,719 shares. 1 time new highs have been achieved over the past 5 days, with a -$2.30 fall in that time frame. In the last twenty days, the average volume was 25,788,650, while in the previous 50 days, it was 39,337,852.
Since last month, MARA stock retreated -30.36%. Shares of the company fell to $12.20 on 08/17/23, the lowest level in the past month. A 52-week high of $19.88 was reached on 07/14/23 after having rallying from a 52-week low of $3.11. Since the beginning of this year, MARA’s stock price has risen by 258.19% or $8.83, and marked a new high 29 times. However, the stock has declined by -38.36% since its 52-week high.
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MARA stock investors should be aware that Marathon Digital Holdings Inc. (MARA) stock had its last reported insider trading activity 233 days ago on Dec 28. MELLINGER DOUGLAS K, the Director of the company, purchased of 10,000 shares for $3.27 on Dec 28. It resulted in a $32,700 investment by the insider. MELLINGER DOUGLAS K added 10,000 shares at an average price of $3.84 on Dec 19. The insider now owns 18,771 shares following the transaction. On Dec 16, CEO Thiel Frederick G bought 5,000 shares at $3.82 apiece. The transaction was valued at $19,100.
Valuation Metrics
The stock’s beta is 5.10. Besides these, the trailing price-to-sales (P/S) ratio of 12.27, the price-to-book (PB) ratio of 3.47.
Financial Health
In the three months ended June 29, Marathon Digital Holdings Inc.’s quick ratio stood at 14.90, while its current ratio was 14.90, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.23, and the total debt-to-equity ratio was 1.23. On the profitability front, the trailing twelve-month gross margin is -30.60% percent. Based on annual data, MARA earned -$33.67 million in gross profit and brought in $117.75 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -64.80%. Return on equity (ROE) for the past 12 months was -94.90%.
In Marathon Digital Holdings Inc.’s quarter-end financial report for June 29, it reported total debt of $734.23 million against cash and short-term investments of $7.51 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. MARA’s revenue rose 36.74% to $51.13 million during the quarter, while net income inched up to $81.76 million. While analysts expected Marathon Digital Holdings Inc. to report -$0.07 quarterly earnings, the actual figure was -$0.13 per share, beating the consensus estimate by -85.70%. During the quarter, the company generated $22.01 million in EBITDA. The liabilities of Marathon Digital Holdings Inc. were 778.74 million at the end of its most recent quarter ended June 29, and its total debt was $734.83 million. The value of shareholders’ equity is $174.27 million.
Technical Picture
This quick technical analysis looks at Marathon Digital Holdings Inc.’s (MARA) price momentum. With a historical volatility rate of 66.06%, the RSI 9-day stood at 23.64% on 17 August.
With respect to its five-day moving average, the current Marathon Digital Holdings Inc. price is down by -15.81% percent or -$2.30. At present, MARA shares trade -28.19% below its 20-day simple moving average and +56.85% percent above its 100-day simple moving average. However, the stock is currently trading approximately +21.53% above its SMA50 and -11.55% below its SMA200.
Stochastic coefficient K was 2.80% and Stochastic coefficient D was 9.40%, while ATR was 1.19. Given the Stochastic reading of 0.89% for the 14-day period, the RSI (14) reading has been calculated as 32.86%. As of today, the MACD Oscillator reading stands at -1.26, while the 14-day reading stands at -2.02.
Analyst Ratings
Marathon Digital Holdings Inc. downgraded its rating on Marathon Digital Holdings Inc. (NASDAQ: MARA) to a Neutral in a note to investors on August 07, 2023. The analysts firm previously had a Buy rating on the stock.Marathon Digital Holdings Inc. (MARA) has been rated Overweight by analysts. According to 0 brokerage firms, MARA is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Marathon Digital Holdings Inc. stock as buy, with 3 recommending it as overweight.
With a median target price of $15.00, the current consensus forecast for the stock is $9.00 – $20.00. Based on these forecasts, analysts predict Marathon Digital Holdings Inc. (MARA) will achieve an average price target of $15.00.
