Marathon Digital Holdings Inc (NASDAQ:MARA) saw a downside of -1.27% to close Monday at $8.56 after subtracting -$0.11 on the day. The 5-day average trading volume is 18,924,600 shares of the company’s common stock. It has gained $9.98 in the past week and touched a new high 1 time within the past 5 days. An average of 28,860,320 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 27,664,105.
MARA’s 1-month performance is -18.86% or -$1.99 on its low of $8.42 reached on 09/25/23. 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 150.29% or $5.14 and has reached a new high 29 times. However, the current price is down -56.93% from the 52-week high price.
Insider Transactions
MARA stock investors last saw insider trading activity on Aug 31.SWAMI ASHU (Director) most recently sold 11,000 shares at $13.80 per share on Aug 31. This transaction cost the insider $151,833. Director, Ouissal Said, sold 5,000 shares at a price of $11.80 on Aug 23. Then, on Aug 22, Director Ouissal Said sold 15,000 shares at a price of $10.95 per share. This transaction amounted to $164,250.
Valuation Metrics
MARA stock has a beta of 5.15. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 8.60 while the price-to-book (PB) in the most recent quarter is 2.51.
Marathon Digital Holdings Inc’s quick ratio for the period ended June 29 was 14.91, with the current ratio over the same period at 14.91. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.20, while the total debt to equity was 1.20. In terms of profitability, the gross margin trailing 12 months is -30.60%. The trailing 12-month EBITDA margin is 9.41% while for the period ending June 29, Marathon Digital Holdings Inc’s operating margin was -68.99%. 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 June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 39.01% to -$21.25 million, while revenue of -$7.24 million was 65.93% off the previous quarter. Analysts expected MARA to announce -$0.07 per share in earnings in its latest quarter, but it posted -$0.13, representing a -85.70% surprise. EBITDA for the quarter stood at more than $22.01 million. MARA stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 778.74 million, with total debt at $734.83 million. Shareholders hold equity totaling $174.27 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 25 September was 21.07% to suggest the stock is trending oversold, with historical volatility in this time period at 23.05%.
The stock’s 5-day moving average is $9.05, reflecting a -12.56% or -$1.23 change from its current price. MARA is currently trading -18.86% above its 20-day SMA, -10.37% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -52.63% and SMA200 by+47.84%.
Stochastic %K and %D was 4.56% and 4.42% and the average true range (ATR) pointed at 0.77. The RSI (14) points at 28.15%, while the 14-day stochastic is at 3.36% with the period’s ATR at 0.88. The stock’s 9-day MACD Oscillator is pointing at -0.62 and -1.22 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 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 $11.00 and a high of $20.00, 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 $15.40.
