Morgan Stanley Has Lowered Expectations for Marathon Digital (NASDAQ:MARA) Stock Price

Marathon Digital (NASDAQ:MARA) had its target price reduced by investment analysts at Morgan Stanley from $7.00 to $5.50 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the business services provider’s stock. Morgan Stanley’s price objective indicates a potential downside of 53.05% from the stock’s previous close.

A number of other equities analysts also recently weighed in on MARA. Rosenblatt Securities boosted their price target on Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Weiss Ratings cut Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. BTIG Research reissued a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a report on Monday, June 1st. Citizens Jmp began coverage on Marathon Digital in a research note on Wednesday, June 24th. They issued a “market outperform” rating and a $24.00 price target on the stock. Finally, Cantor Fitzgerald cut their price target on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.83.

Marathon Digital Stock Performance

Shares of Marathon Digital stock traded down $0.34 during trading on Wednesday, hitting $11.71. 17,209,628 shares of the stock were exchanged, compared to its average volume of 45,078,559. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.99. The company has a fifty day moving average price of $13.35 and a 200-day moving average price of $10.77. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of -2.05 and a beta of 5.36. Marathon Digital has a 1-year low of $6.66 and a 1-year high of $23.45.

Insider Activity at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total transaction of $391,946.25. Following the transaction, the chief executive officer owned 4,562,009 shares in the company, valued at approximately $65,008,628.25. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 7,000 shares of Marathon Digital stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total value of $99,750.00. Following the sale, the general counsel directly owned 963,768 shares of the company’s stock, valued at approximately $13,733,694. The trade was a 0.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 194,855 shares of company stock valued at $2,465,975. 0.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. CI Investments Inc. lifted its holdings in shares of Marathon Digital by 7.6% during the first quarter. CI Investments Inc. now owns 13,520 shares of the business services provider’s stock worth $110,000 after buying an additional 957 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Marathon Digital by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock valued at $127,000 after acquiring an additional 991 shares in the last quarter. Evexia Wealth LLC increased its position in Marathon Digital by 9.2% during the first quarter. Evexia Wealth LLC now owns 12,937 shares of the business services provider’s stock worth $106,000 after acquiring an additional 1,090 shares during the period. Sigma Planning Corp raised its stake in Marathon Digital by 12.4% in the 4th quarter. Sigma Planning Corp now owns 11,924 shares of the business services provider’s stock worth $107,000 after purchasing an additional 1,320 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in Marathon Digital by 38.6% in the 2nd quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider’s stock worth $76,000 after purchasing an additional 1,340 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

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.