Marathon Digital (NASDAQ:MARA) Stock Price Down 2.3% – What’s Next?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price dropped 2.3% during mid-day trading on Monday . The stock traded as low as $15.40 and last traded at $15.74. Approximately 12,902,167 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 53,405,477 shares. The stock had previously closed at $16.11.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MARA shares. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research note on Thursday, October 10th. Macquarie initiated coverage on Marathon Digital in a research note on Tuesday, September 24th. They set an “outperform” rating and a $22.00 target price for the company. B. Riley increased their price target on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, July 12th. JPMorgan Chase & Co. lowered their price objective on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Finally, Cantor Fitzgerald initiated coverage on Marathon Digital in a research note on Thursday, October 10th. They issued an “overweight” rating and a $21.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $21.43.

Marathon Digital Stock Down 2.2 %

The firm has a market capitalization of $4.64 billion, a P/E ratio of 10.09 and a beta of 5.52. The firm’s fifty day moving average price is $16.53 and its 200-day moving average price is $18.42. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $145.14 million for the quarter, compared to analyst estimates of $157.86 million. During the same quarter last year, the business posted ($0.13) earnings per share. The firm’s revenue for the quarter was up 77.5% compared to the same quarter last year. As a group, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -1.05 earnings per share for the current year.

Insiders Place Their Bets

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the transaction, the chief executive officer now owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were 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 directly owns 2,103,347 shares in the company, valued at $33,022,547.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the sale, the chief executive officer now owns 4,278,309 shares in the company, valued at $67,169,451.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,417 shares of company stock worth $1,516,536. 0.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marathon Digital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC boosted its position in shares of Marathon Digital by 121.1% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after buying an additional 695 shares during the period. Signaturefd LLC grew its holdings in shares of Marathon Digital by 74.8% during the 3rd quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 1,273 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Marathon Digital in the third quarter worth $50,000. FinTrust Capital Advisors LLC purchased a new stake in shares of Marathon Digital during the first quarter worth $90,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Marathon Digital during the first quarter valued at $105,000. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

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.