Marathon Digital (NASDAQ:MARA) Shares Down 5.6% – Time to Sell?

by · The Cerbat Gem

Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Free Report)’s share price dropped 5.6% during trading on Friday . The stock traded as low as $11.63 and last traded at $11.74. Approximately 37,287,756 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 46,377,637 shares. The stock had previously closed at $12.44.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MARA. Compass Point raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Monday, November 24th. Guggenheim assumed coverage on shares of Marathon Digital in a research report on Tuesday, October 21st. They issued a “neutral” rating for the company. Macquarie boosted their target price on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Rosenblatt Securities dropped their price objective on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. decreased their price target on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

Get Our Latest Stock Analysis on MARA

Marathon Digital Price Performance

The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 6.52 and a beta of 5.42. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average is $16.37 and its 200 day moving average is $16.33.

Marathon Digital (NASDAQ:MARA – Get Free Report) last released its quarterly earnings data on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. The company had revenue of $252.41 million during the quarter, compared to analyst estimates of $254.58 million. Research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling at Marathon Digital

In related news, Director Vicki Mealer-Burke sold 14,887 shares of Marathon Digital stock in a transaction on Monday, September 8th. The shares were sold at an average price of $15.22, for a total value of $226,580.14. Following the transaction, the director directly owned 58,103 shares in the company, valued at $884,327.66. This trade represents a 20.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Zabi Nowaid sold 25,113 shares of Marathon Digital stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $15.87, for a total transaction of $398,543.31. Following the completion of the sale, the general counsel directly owned 723,136 shares in the company, valued at approximately $11,476,168.32. The trade was a 3.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 234,598 shares of company stock valued at $3,876,481 over the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marathon Digital

Hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management raised its stake in shares of Marathon Digital by 2,407.4% during the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock worth $25,000 after buying an additional 1,300 shares in the last quarter. Fifth Third Bancorp grew its holdings in Marathon Digital by 59.9% during the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after acquiring an additional 683 shares during the period. Estabrook Capital Management purchased a new position in Marathon Digital in the second quarter worth $31,000. Bessemer Group Inc. raised its position in Marathon Digital by 56.8% in the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after acquiring an additional 659 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in Marathon Digital by 375.4% in the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 2,001 shares during the period. Institutional investors and hedge funds own 44.53% of the company’s stock.

About Marathon Digital

(Get Free Report)

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.

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