Is Marathon Digital Holdings Inc (NASDAQ: MARA) Worth Your Money In 2024?

In today’s recent session, 12.32 million shares of the Marathon Digital Holdings Inc (NASDAQ:MARA) have been traded, and its beta is 5.36. Most recently the company’s share price was $19.85, and it changed around -$1.78 or -8.23% from the last close, which brings the market valuation of the company to $5.61B. MARA at last check was trading at a discount to its 52-week high of $34.09, offering almost -71.74% off that amount. The share price’s 52-week low was $7.16, which indicates that the recent value has risen by an impressive 63.93% since then. We note from Marathon Digital Holdings Inc’s average daily trading volume that its 10-day average is 56.96 million shares, with the 3-month average coming to 82.09 million.

Marathon Digital Holdings Inc (NASDAQ:MARA) trade information

Instantly MARA has been showing red trend so far today with a performance of -8.23% on intraday trading today. The performance over the last five days has remained in the red territory. The company’s shares are currently down -15.50% year-to-date, but still down -5.25% over the last five days. On the other hand, Marathon Digital Holdings Inc (NASDAQ:MARA) is -26.48% down in the 30-day period. We can see from the shorts that 45.31 million shares have been sold at a short interest cover period of 0.55 day(s).

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The consensus price target as assigned by Wall Street analysts is $32.8, which translates to bulls needing to increase their stock price by 39.48% from its current value. Analyst projections state that MARA is forecast to be at a low of $12 and a high of $66.

Marathon Digital Holdings Inc (MARA) estimates and forecasts

Marathon Digital Holdings Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 133.53 percent over the past six months and at a -58.82% annual growth rate that is well below the industry average of 17.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 620.00% in revenue this quarter, and will report an increase of 253.80% in the next quarter. The year-over-year growth rate is expected to be 105.60%, up from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $199.25 million in revenue for the current quarter. 5 analysts expect Marathon Digital Holdings Inc to make $189.55 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $51.13 million and $81.76 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 289.70%. Forecasts for the next quarter put sales growth at 131.80%.

Marathon Digital Holdings Inc earnings are expected to increase by -103.27% in 2024, but the outlook is positive 50.00% per year for the next five years.

Marathon Digital Holdings Inc (NASDAQ:MARA)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 3.59% of Marathon Digital Holdings Inc shares, and 40.09% of them are in the hands of institutional investors. The stock currently has a share float of 41.58%. Marathon Digital Holdings Inc stock is held by 374 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 8.77% of the shares, which is about 23.47 million shares worth $473.93 million.

Blackrock Inc., with 6.42% or 17.19 million shares worth $347.11 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 6.68 million shares worth $134.86 million, making up 2.50% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 5.38 million shares worth around $108.69 million, which represents about 2.01% of the total shares outstanding.