Marathon Digital (NASDAQ:MARA) Shares Down 5.1% – Time to Sell?

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) fell 5.1% during trading on Thursday . The stock traded as low as $17.26 and last traded at $17.35. 12,315,824 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 53,570,203 shares. The stock had previously closed at $18.28.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MARA. JPMorgan Chase & Co. decreased their price target 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. Cantor Fitzgerald started coverage on Marathon Digital in a research report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research report on Thursday, October 10th. B. Riley lifted their price objective on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Finally, Macquarie started coverage on Marathon Digital in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Marathon Digital currently has an average rating of “Hold” and an average price target of $21.43.

Marathon Digital Trading Down 3.9 %

The company has a market cap of $4.74 billion, a P/E ratio of 10.33 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. The business has a 50-day moving average price of $16.53 and a two-hundred day moving average price of $18.37.

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

Insider Transactions at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was 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 approximately $74,389,070. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Marathon Digital news, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction dated Friday, September 20th. The stock was 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 of the company’s stock, valued at approximately $67,169,451.30. This represents 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 the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 4,250,804 shares in the company, valued at $74,389,070. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,417 shares of company stock worth $1,516,536 over the last 90 days. 0.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Marathon Digital

Hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of Marathon Digital in the third quarter worth about $50,000. Principal Financial Group Inc. increased its holdings in shares of Marathon Digital by 2.7% in the third quarter. Principal Financial Group Inc. now owns 1,391,916 shares of the business services provider’s stock worth $22,577,000 after acquiring an additional 37,150 shares in the last quarter. Harvest Portfolios Group Inc. increased its holdings in shares of Marathon Digital by 17.5% in the third quarter. Harvest Portfolios Group Inc. now owns 59,037 shares of the business services provider’s stock worth $958,000 after acquiring an additional 8,778 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Marathon Digital by 3.4% in the third quarter. Amalgamated Bank now owns 86,113 shares of the business services provider’s stock worth $1,397,000 after acquiring an additional 2,838 shares in the last quarter. Finally, United Advisor Group LLC bought a new stake in shares of Marathon Digital in the third quarter worth about $503,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

About Marathon Digital

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.