Marathon Digital (NASDAQ:MARA) Stock Price Down 2.2% – What’s Next?

by · The Markets Daily

Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Free Report) shares were down 2.2% during mid-day trading on Monday . The company traded as low as $7.78 and last traded at $8.06. Approximately 67,374,069 shares traded hands during mid-day trading, an increase of 46% from the average daily volume of 46,281,863 shares. The stock had previously closed at $8.24.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Monday, November 24th. Morgan Stanley began coverage on Marathon Digital in a research report on Monday. They issued an “underweight” rating and a $8.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Cantor Fitzgerald dropped their price target on Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Finally, Macquarie Infrastructure raised their price objective on shares of Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.00.

Read Our Latest Analysis on MARA

Marathon Digital Stock Down 2.2%

The firm has a market cap of $3.05 billion, a PE ratio of 4.48 and a beta of 5.56. The business has a 50-day moving average price of $10.29 and a two-hundred day moving average price of $14.26. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63.

Insider Buying and Selling

In other news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $10.80, for a total transaction of $297,054.00. Following the completion of the sale, the chief executive officer directly owned 3,517,566 shares of the company’s stock, valued at approximately $37,989,712.80. The trade was a 0.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $11.99, for a total value of $416,436.68. Following the completion of the transaction, the chief financial officer directly owned 283,298 shares in the company, valued at $3,396,743.02. This trade represents a 10.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 151,979 shares of company stock valued at $1,738,228 in the last quarter. 0.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Marathon Digital by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock worth $419,422,000 after purchasing an additional 1,394,559 shares during the last quarter. State Street Corp lifted its position in shares of Marathon Digital by 1.4% during the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock worth $210,977,000 after buying an additional 191,380 shares during the last quarter. UBS Group AG boosted its holdings in shares of Marathon Digital by 104.1% in the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock valued at $220,922,000 after buying an additional 6,172,110 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Marathon Digital by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock valued at $89,434,000 after buying an additional 251,674 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Marathon Digital by 7.8% in the 2nd quarter. American Century Companies Inc. now owns 6,781,198 shares of the business services provider’s stock valued at $106,329,000 after buying an additional 491,245 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Company Profile

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Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.

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