Marathon Digital (NASDAQ:MARA) Stock Price Down 4% – Time to Sell?

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded down 4% during mid-day trading on Monday . The company traded as low as $11.09 and last traded at $11.18. 31,395,522 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 46,955,852 shares. The stock had previously closed at $11.64.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Piper Sandler reduced their target price on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. Morgan Stanley assumed coverage on Marathon Digital in a research note on Monday, February 9th. They issued an “underweight” rating and a $8.00 target price on the stock. Cantor Fitzgerald reduced their target price on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Weiss Ratings lowered Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, March 6th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Marathon Digital currently has an average rating of “Hold” and a consensus target price of $19.00.

Marathon Digital Trading Down 4.0%

The company has a market cap of $4.25 billion, a PE ratio of -2.82 and a beta of 5.29. The business has a 50 day simple moving average of $9.13 and a two-hundred day simple moving average of $11.36. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.92.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($4.29). Marathon Digital had a negative return on equity of 19.01% and a negative net margin of 144.58%.The business had revenue of $202.31 million for the quarter, compared to analysts’ expectations of $250.74 million. During the same period in the prior year, the company earned $1.24 EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, analysts forecast that Marathon Digital Holdings, Inc. will post -0.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Marathon Digital news, General Counsel Zabi Nowaid sold 42,090 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $12.00, for a total transaction of $505,080.00. Following the transaction, the general counsel owned 1,007,047 shares of the company’s stock, valued at $12,084,564. This represents a 4.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Hassan Khan sold 16,000 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $11.68, for a total value of $186,880.00. Following the transaction, the chief financial officer directly owned 441,066 shares in the company, valued at approximately $5,151,650.88. This represents a 3.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 172,605 shares of company stock valued at $1,745,843 in the last quarter. 0.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MARA. Hollencrest Capital Management lifted 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 purchasing an additional 1,300 shares during the period. Bessemer Group Inc. increased its holdings in shares of Marathon Digital by 56.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after buying an additional 659 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Marathon Digital during the 4th quarter worth $36,000. Hantz Financial Services Inc. increased its holdings in shares of Marathon Digital by 344.8% during the 4th quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock worth $45,000 after buying an additional 3,893 shares during the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in shares of Marathon Digital during the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Company Profile

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.