Marathon Digital (NASDAQ:MARA) Shares Down 1% – Time to Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) was down 1% during mid-day trading on Monday . The company traded as low as $9.37 and last traded at $9.49. Approximately 29,192,614 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 45,898,988 shares. The stock had previously closed at $9.59.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MARA. Rosenblatt Securities lowered 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. JPMorgan Chase & Co. decreased their target price on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Compass Point raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Monday, November 24th. Macquarie lifted their price objective on Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Finally, 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. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Marathon Digital currently has an average rating of “Moderate Buy” and a consensus target price of $23.56.

Marathon Digital Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09. The stock has a market capitalization of $3.40 billion, a P/E ratio of 4.99 and a beta of 5.42. The stock’s fifty day moving average is $13.09 and its 200-day moving average is $15.72.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share 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 negative return on equity of 2.59% and a net margin of 100.82%. On average, equities analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $11.48, for a total value of $398,723.36. Following the transaction, the chief financial officer owned 248,566 shares of the company’s stock, valued at $2,853,537.68. This trade represents a 12.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Zabi Nowaid sold 25,113 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $15.87, for a total transaction of $398,543.31. Following the sale, the general counsel directly owned 723,136 shares of the company’s stock, valued at approximately $11,476,168.32. This represents a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 218,711 shares of company stock valued at $3,286,669 over the last 90 days. 0.80% of the stock is currently owned by company insiders.

Institutional Trading of Marathon Digital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its stake in Marathon Digital by 8.4% during the second quarter. Bank of New York Mellon Corp now owns 2,286,074 shares of the business services provider’s stock worth $35,846,000 after buying an additional 177,771 shares during the last quarter. Emerald Advisers LLC raised its stake in shares of Marathon Digital by 77.4% in the second quarter. Emerald Advisers LLC now owns 579,571 shares of the business services provider’s stock valued at $9,088,000 after acquiring an additional 252,864 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Marathon Digital by 91.3% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 347,214 shares of the business services provider’s stock worth $5,444,000 after acquiring an additional 165,688 shares in the last quarter. Intech Investment Management LLC grew its position in Marathon Digital by 14.5% during the 1st quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider’s stock worth $1,848,000 after acquiring an additional 20,413 shares during the last quarter. Finally, New York State Teachers Retirement System increased its holdings in Marathon Digital by 12.0% during the 2nd quarter. New York State Teachers Retirement System now owns 318,656 shares of the business services provider’s stock valued at $4,997,000 after purchasing an additional 34,100 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

About Marathon Digital

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.