Marathon Digital (NASDAQ:MARA) Shares Down 2.7% – Should You Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price fell 2.7% during mid-day trading on Wednesday . The company traded as low as $18.14 and last traded at $18.46. 14,468,812 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 53,641,703 shares. The stock had previously closed at $18.97.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Macquarie initiated coverage on shares of Marathon Digital in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 target price on the stock. Cantor Fitzgerald initiated coverage on shares of Marathon Digital in a research report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective on the stock. Finally, B. Riley lifted their price objective on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.79.

Marathon Digital Price Performance

The company has a fifty day moving average price of $16.46 and a two-hundred day moving average price of $18.34. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 11.00 and a beta of 5.50. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The business had revenue of $145.14 million during the quarter, compared to analysts’ expectations of $157.86 million. During the same period in the previous year, the company posted ($0.13) earnings per share. Marathon Digital’s quarterly revenue was up 77.5% on a year-over-year basis. On average, equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.05 EPS for the current fiscal year.

Insider Buying and Selling at Marathon Digital

In other news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the sale, the chief financial officer now owns 2,103,347 shares in the company, valued at $33,022,547.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $481,337.50. Following the transaction, the chief executive officer now owns 4,250,804 shares of the company’s stock, valued at $74,389,070. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the completion of the transaction, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,417 shares of company stock worth $1,516,536. 0.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marathon Digital

A number of large investors have recently made changes to their positions in MARA. Rhumbline Advisers grew its position in Marathon Digital by 126.5% during the second quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock worth $15,615,000 after buying an additional 439,309 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of Marathon Digital in the 3rd quarter worth approximately $640,000. Thrivent Financial for Lutherans acquired a new position in Marathon Digital during the second quarter worth $4,498,000. Public Sector Pension Investment Board acquired a new stake in Marathon Digital in the second quarter valued at $11,920,000. Finally, Second Line Capital LLC purchased a new position in shares of Marathon Digital in the second quarter valued at $4,060,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Company Profile

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.