Marathon Digital (NASDAQ:MARA) Trading Down 7.4% – Should You Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares traded down 7.4% during mid-day trading on Tuesday . The stock traded as low as $8.15 and last traded at $8.25. 40,544,413 shares were traded during trading, a decline of 14% from the average session volume of 46,905,504 shares. The stock had previously closed at $8.91.

Analyst Ratings Changes

A number of research firms recently weighed in on MARA. Morgan Stanley assumed coverage on shares of Marathon Digital in a report on Monday, February 9th. They issued an “underweight” rating and a $8.00 price objective on the stock. Cantor Fitzgerald reduced their target price on shares of Marathon Digital from $21.00 to $11.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. 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 report on Monday, November 24th. Piper Sandler reduced their price target on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. Finally, Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Monday, November 24th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.00.

Marathon Digital Trading Down 7.4%

The business’s 50 day moving average price is $9.00 and its two-hundred day moving average price is $12.69. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -2.08 and a beta of 5.51. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.27 and a current ratio of 1.27.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data on Thursday, February 26th. The business services provider reported ($4.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($4.29). Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. The company had revenue of $202.31 million during the quarter, compared to the consensus estimate of $250.74 million. During the same quarter last year, the business earned $1.24 earnings per share. The company’s revenue was down 5.6% on a year-over-year basis. Equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $9.18, for a total transaction of $252,495.90. Following the completion of the transaction, the chief executive officer owned 4,788,954 shares of the company’s stock, valued at $43,962,597.72. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $9.18, for a total value of $146,880.00. Following the transaction, the chief financial officer directly owned 343,165 shares of the company’s stock, valued at $3,150,254.70. This represents a 4.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 114,515 shares of company stock valued at $1,029,678. 0.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marathon Digital

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Marathon Digital by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock worth $419,422,000 after purchasing an additional 1,394,559 shares in the last quarter. State Street Corp lifted its stake in Marathon Digital by 1.4% during the second quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock valued at $210,977,000 after purchasing an additional 191,380 shares during the last quarter. UBS Group AG boosted its holdings in Marathon Digital by 104.1% during the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after buying an additional 6,172,110 shares in the last quarter. Marex Group plc grew its position in Marathon Digital by 2.6% in the fourth quarter. Marex Group plc now owns 10,137,713 shares of the business services provider’s stock worth $91,037,000 after buying an additional 259,210 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Marathon Digital by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock worth $89,434,000 after buying an additional 251,674 shares during the last quarter. 44.53% of the stock is 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.