Marathon Digital (NASDAQ:MARA) Shares Down 2.7% – Time to Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) fell 2.7% on Wednesday . The company traded as low as $11.77 and last traded at $11.92. 37,349,132 shares were traded during trading, a decline of 19% from the average session volume of 46,270,434 shares. The stock had previously closed at $12.25.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MARA. BTIG Research restated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research note on Friday, September 5th. Cantor Fitzgerald dropped their price objective on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Macquarie boosted their target price on shares of Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. lowered their price target on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Finally, Guggenheim began coverage on shares of Marathon Digital in a research report on Tuesday, October 21st. They set a “neutral” rating on the stock. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Marathon Digital Trading Down 2.7%

The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.09 and a current ratio of 2.09. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 6.62 and a beta of 5.42. The company has a 50 day moving average price of $16.03 and a two-hundred day moving average price of $16.26.

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

Insider Activity at Marathon Digital

In related news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $11.99, for a total value of $416,436.68. Following the sale, the chief financial officer directly owned 283,298 shares in the company, valued at approximately $3,396,743.02. The trade was a 10.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Zabi Nowaid sold 25,113 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $15.87, for a total value of $398,543.31. Following the transaction, the general counsel directly owned 723,136 shares of the company’s stock, valued at $11,476,168.32. The trade was a 3.36% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 218,711 shares of company stock valued at $3,633,801. 0.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marathon Digital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL grew its stake in shares of Marathon Digital by 7,831.3% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 23,794 shares of the business services provider’s stock valued at $478,000 after buying an additional 23,494 shares during the period. Swiss Life Asset Management Ltd acquired a new position in Marathon Digital in the third quarter valued at approximately $294,000. Liontrust Investment Partners LLP purchased a new position in Marathon Digital in the third quarter worth approximately $373,000. Danske Bank A S acquired a new stake in Marathon Digital during the third quarter worth $55,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Marathon Digital during the third quarter worth $304,000. 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.