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

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

Analysts Set New Price Targets

MARA has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research note on Thursday, October 10th. Macquarie initiated coverage on Marathon Digital in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 target price on the stock. B. Riley lifted their price target on Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Cantor Fitzgerald assumed coverage on shares of Marathon Digital in a research report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price target on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $19.79.

Marathon Digital Stock Down 6.5 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 8.29 and a beta of 5.50. The firm’s fifty day moving average is $16.34 and its 200-day moving average is $18.34.

Marathon Digital (NASDAQ:MARA) last issued its earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The company had revenue of $145.14 million during the quarter, compared to analyst estimates of $157.86 million. Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The business’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.13) EPS. On average, sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $292,250.00. Following the transaction, the chief financial officer now directly owns 2,077,232 shares in the company, valued at approximately $36,351,560. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $292,250.00. Following the sale, the chief financial officer now owns 2,077,232 shares of the company’s stock, valued at approximately $36,351,560. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $481,337.50. Following the completion of the sale, the chief executive officer now owns 4,250,804 shares in the company, valued at $74,389,070. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,417 shares of company stock valued at $1,516,536 in the last quarter. Insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its holdings in shares of Marathon Digital by 50.4% during the third quarter. Assenagon Asset Management S.A. now owns 143,188 shares of the business services provider’s stock valued at $2,323,000 after purchasing an additional 47,965 shares during the period. Impact Partnership Wealth LLC raised its position in shares of Marathon Digital by 7.6% during the 3rd quarter. Impact Partnership Wealth LLC now owns 19,766 shares of the business services provider’s stock worth $321,000 after buying an additional 1,394 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Marathon Digital by 1,522.0% in the 3rd quarter. International Assets Investment Management LLC now owns 19,561 shares of the business services provider’s stock worth $317,000 after acquiring an additional 18,355 shares during the period. Private Advisor Group LLC increased its stake in shares of Marathon Digital by 27.7% during the third quarter. Private Advisor Group LLC now owns 226,199 shares of the business services provider’s stock valued at $3,669,000 after acquiring an additional 49,062 shares during the period. Finally, Signaturefd LLC raised its holdings in Marathon Digital by 74.8% during the third quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock worth $48,000 after purchasing an additional 1,273 shares in the last quarter. 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.