Marathon Digital Holdings Inc. (NASDAQ:MARA) finished Thursday with a subtraction of -$1.2 to close at $10.55, a downside of -10.21 percent. An average of 25,186,941 shares of common stock have been traded in the last five days. There was a fall of -$1.70 in the past week, and it reached a new high 13 times over the past 12 months. The last 20 days have seen an average of 25,754,650 shares traded, while the 50-day average volume stands at 39,467,793.
MARA stock has decreased by -37.28% in the last month. The company shares reached their 1-month lowest point of $10.37 on 08/24/23. With the stock rallying to its 52-week high on 07/14/23, shares of the company touched a low of $3.11 and a high of $19.88 in 52 weeks. It has reached a new high 29 times so far this year and achieved 208.48% or $7.13 in price. In spite of this, the price is down -46.92% from the 52-week high.
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Insider Transactions
MARA stock investors should be aware that Marathon Digital Holdings Inc. (MARA) stock had its last reported insider trading activity 3 days ago on Aug 22.
Valuation Metrics
Marathon Digital Holdings Inc. (MARA) stock’s beta is 5.13. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 10.57, the price-to-book (PB) ratio at 2.99.
Financial Health
The quick ratio of Marathon Digital Holdings Inc. for the three months ended June 29 was 14.90, and the current ratio was 14.90, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.23 and a total debt to equity ratio of 1.23 for the quarter ending June 29. Marathon Digital Holdings Inc.’s EBITDA margin for the year ending June 29 is 9.41%. Its gross profit as reported stood at -$33.67 million compared to revenue of $117.75 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Marathon Digital Holdings Inc.’s return on assets was -38.20%.
Earnings Surprise
For the three-month period that ended June 29, Marathon Digital Holdings Inc. had $734.23 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$21.25 million in the quarter, while revenues of -$7.24 million were grew 39.01%. The analyst consensus anticipated Marathon Digital Holdings Inc.’s latest quarter earnings to come in at -$0.07 per share, but it turned out to be -$0.13, a -85.70% surprise. For the quarter, EBITDA amounted to $22.01 million. Shareholders own equity worth $174.27 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Marathon Digital Holdings Inc. (MARA) price momentum. RSI 9-day as of the close on 24 August was 24.63%, suggesting the stock is oversold, with historical volatility in this time frame at 80.45%.
As of today, MARA’s price is $11.12 -13.88% or -$1.70 from its 5-day moving average. MARA is currently trading -33.94% lower than its 20-day SMA and +20.99% higher than its 100-day SMA. However, the stock’s current price level is +8.99% above the SMA50 and -2.68% below the SMA200.
The stochastic %K and %D were 6.63% and 5.23%, respectively, and the average true range (ATR) was 1.09. With the 14-day stochastic at 2.97% and the average true range at 1.14, the RSI (14) stands at 30.41%. The stock has reached -1.17 on the 9-day MACD Oscillator while the 14-day reading was at -2.20.
Analyst Ratings
Chardan Capital Markets downgraded Marathon Digital Holdings Inc. (NASDAQ: MARA) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Marathon Digital Holdings Inc. (MARA) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MARA, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.
What is MARA’s price target for the next 12 months?
Analysts predict a range of price targets between $11.00 and $20.00, with a median target of $15.00. Taking a look at these predictions, the average price target given by analysts for Marathon Digital Holdings Inc. (MARA) stock is $15.40.
