Marathon Digital (NASDAQ:MARA) Trading Down 7.1% – Should You Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) was down 7.1% during trading on Monday . The company traded as low as $10.58 and last traded at $10.70. Approximately 44,391,861 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 46,241,480 shares. The stock had previously closed at $11.52.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MARA shares. 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 report on Wednesday, November 5th. BTIG Research reiterated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research report on Friday, September 5th. Guggenheim began coverage on Marathon Digital in a report on Tuesday, October 21st. They set a “neutral” rating for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Marathon Digital in a report on Monday. Finally, Cantor Fitzgerald decreased 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. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Marathon Digital presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Marathon Digital Trading Down 7.1%

The company has a market capitalization of $3.76 billion, a P/E ratio of 5.52 and a beta of 5.42. The business has a 50 day moving average price of $15.23 and a 200 day moving average price of $16.13. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.63.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data 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 firm had revenue of $252.41 million for 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%. Analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Zabi Nowaid sold 25,113 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $15.87, for a total value of $398,543.31. Following the completion of the transaction, the general counsel directly owned 723,136 shares in the company, valued at approximately $11,476,168.32. The trade was a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $11.99, for a total transaction of $329,784.95. Following the sale, the chief executive officer owned 3,582,994 shares in the company, valued at $42,960,098.06. This trade represents a 0.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 156,474 shares of company stock worth $2,591,716 over the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marathon Digital

A number of large investors have recently added to or reduced their stakes in MARA. Vanguard Group Inc. raised its stake in shares of Marathon Digital by 9.8% in the 3rd quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock valued at $827,392,000 after purchasing an additional 4,049,979 shares during the period. State Street Corp raised its position in Marathon Digital by 1.4% in the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock valued at $210,977,000 after buying an additional 191,380 shares during the last quarter. UBS Group AG lifted its stake in Marathon Digital by 104.1% in the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock valued at $220,922,000 after acquiring an additional 6,172,110 shares in the last quarter. Geode Capital Management LLC boosted its position in Marathon Digital by 3.5% during the 2nd quarter. Geode Capital Management LLC now owns 9,225,303 shares of the business services provider’s stock worth $144,669,000 after acquiring an additional 315,499 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Marathon Digital by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 6,781,198 shares of the business services provider’s stock worth $106,329,000 after acquiring an additional 491,245 shares during the last quarter. 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.