Marathon Digital (NASDAQ:MARA) Shares Down 7.1% – Here’s Why

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price dropped 7.1% during mid-day trading on Wednesday . The company traded as low as $9.92 and last traded at $9.93. Approximately 45,966,274 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 46,214,703 shares. The stock had previously closed at $10.69.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MARA shares. BTIG Research reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research report on Friday, September 5th. Rosenblatt Securities reduced their price objective on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Cantor Fitzgerald dropped their price target on Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. JPMorgan Chase & Co. lowered their target price 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, Macquarie upped their price objective on shares of Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Marathon Digital presently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

Marathon Digital Trading Down 7.1%

The business has a 50 day moving average of $15.23 and a two-hundred day moving average of $16.13. 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 $3.76 billion, a price-to-earnings ratio of 5.52 and a beta of 5.42.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $254.58 million. Equities analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $11.99, for a total transaction of $416,436.68. Following the completion of the sale, the chief financial officer directly owned 283,298 shares in the company, valued at $3,396,743.02. The trade was a 10.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Zabi Nowaid sold 25,113 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $15.87, for a total value of $398,543.31. Following the sale, the general counsel owned 723,136 shares in the company, valued at $11,476,168.32. The trade was a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 156,474 shares of company stock valued at $2,591,716 in the last 90 days. 0.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in Marathon Digital by 9.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,322,618 shares of the business services provider’s stock valued at $38,210,000 after acquiring an additional 294,161 shares in the last quarter. Nuveen LLC purchased a new position in shares of Marathon Digital during the first quarter valued at approximately $11,514,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of Marathon Digital by 34.4% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 18,954 shares of the business services provider’s stock valued at $218,000 after buying an additional 4,853 shares during the period. American Century Companies Inc. boosted its position in Marathon Digital by 55.7% in the first quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider’s stock worth $72,334,000 after purchasing an additional 2,250,082 shares during the last quarter. Finally, Cresset Asset Management LLC grew its position in Marathon Digital by 37.8% during the first quarter. Cresset Asset Management LLC now owns 63,847 shares of the business services provider’s stock valued at $734,000 after buying an additional 17,512 shares during the period. Institutional investors own 44.53% of the company’s stock.

Marathon Digital Company Profile

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.