Things To Consider Before You Buy Marathon Digital Holdings Inc (NASDAQ: MARA)

Marathon Digital Holdings Inc (NASDAQ:MARA) shares, rose in value, with the stock price down by -1.55% to the previous day’s close as strong demand from buyers drove the stock to $19.42.

Actively observing the price movement in the last trading, the stock closed the session at $19.73. The value of beta (5-year monthly) was 5.40 whereas the PE ratio was 17.28 over 12-month period. Referring to stock’s 52-week performance, its high was $34.09, and the low was $7.16. On the whole, MARA has fluctuated by -24.45% over the past month.

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With the market capitalization of Marathon Digital Holdings Inc currently standing at about $5.49 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 08, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.26, which is expected to increase to $0.76 for fiscal year $0.65 and then to about $0.4 by fiscal year 2025. Data indicates that the EPS growth is expected to be -38.70% in 2025, while the next year’s EPS growth is forecast to be -38.50%.

Analysts have estimated the company’s revenue for the quarter at $191.31 million, with a low estimate of $151.6 million and a high estimate of $264 million. According to the average forecast, sales growth in current quarter could jump up 274.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $761.82 million, representing an increase of 96.60% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MARA’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0.35, with the price of MARA currently trading nearly -7.36% and -10.99% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 43.15, while the 7-day volatility ratio is showing 8.23% which for the 30-day chart, stands at 10.79%. Furthermore, Marathon Digital Holdings Inc (MARA)’s beta value is 5.37, and its average true range (ATR) is 2.35.

A comparison of Marathon Digital Holdings Inc (MARA) with its peers suggests the former has fared considerably weaker in the market. MARA showed an intraday change of -1.55% in last session, and over the past year, it grew by 122.76%%.

Data on historical trading for Marathon Digital Holdings Inc (NASDAQ:MARA) indicates that the trading volumes over the past 10 days have averaged 50.7 million and over the past 3 months, they’ve averaged 81.00 million. According to company’s latest data on outstanding shares, there are 282.64 million shares outstanding.

Nearly 2.13% of Marathon Digital Holdings Inc’s shares belong to company insiders and institutional investors own 37.25% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 45.31 million shares as on Mar 15, 2024, resulting in a short ratio of 0.55. According to the data, the short interest in Marathon Digital Holdings Inc (MARA) stood at 16.93% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 41.52 million. The stock has fallen by -17.31% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MARA stock heading into the next quarter.