In the last trading session, 37.26 million Marathon Digital Holdings Inc (NASDAQ:MARA) shares changed hands as the company’s beta touched 5.38. With the company’s per share price at $20.87 changed hands at -$0.91 or -4.18% during last session, the market valuation stood at $5.90B. MARA’s last price was a discount, traded about -63.34% off its 52-week high of $34.09. The share price had its 52-week low at $6.87, which suggests the last value was 67.08% up since then. When we look at Marathon Digital Holdings Inc’s average trading volume, we note the 10-day average is 59.37 million shares, with the 3-month average coming to 87.43 million.
Marathon Digital Holdings Inc (NASDAQ:MARA) trade information
Instantly MARA was in red as seen at the end of in last trading. With action 8.02%, the performance over the past five days has been green. The drop to weekly highs of 23.08 subtracted -4.18% to the stock’s daily price. The company’s shares are showing year-to-date downside of -11.15%, with the 5-day performance at 8.02% in the green. However, in the 30-day time frame, Marathon Digital Holdings Inc (NASDAQ:MARA) is -15.02% down. Looking at the short shares, we see there were 39.61 million shares sold at short interest cover period of 0.49 days.
Marathon Digital Holdings Inc (MARA) estimates and forecasts
Data shows that the Marathon Digital Holdings Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 127.84% over the past 6 months, a -17.65% in annual growth rate that is considerably lower than the industry average of 18.80%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Marathon Digital Holdings Inc will rise 860.00%, while the growth in revenue is estimated to hit 300.00% for the next quarter. Year-over-year growth is forecast to reach 101.30% up from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $209.33 million. 3 analysts are of the opinion that Marathon Digital Holdings Inc’s revenue for the quarter ending Jun 2024 will be $190.23 million. The company’s revenue for the corresponding quarters a year ago was $51.13 million and $81.76 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 309.40%. The estimates for the next quarter sales put growth at 132.70%.
The 2024 estimates are for Marathon Digital Holdings Inc earnings to decrease by -68.09%, but the outlook for the next 5-year period is at 50.00% per year.
MARA Dividends
Marathon Digital Holdings Inc is expected to release its next quarterly earnings report between May 08 and May 13.
Marathon Digital Holdings Inc (NASDAQ:MARA)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 3.59% of Marathon Digital Holdings Inc shares while 40.08% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 41.58%. There are 40.08% institutions holding the Marathon Digital Holdings Inc stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.28% of the shares, roughly 17.52 million MARA shares worth $242.87 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 5.77% or 12.21 million shares worth $169.16 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 5.03 million shares estimated at $69.69 million under it, the former controlled 2.38% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 1.94% of the shares, roughly 4.1 million shares worth around $56.89 million.
