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

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares were down 4% during trading on Monday . The stock traded as low as $11.10 and last traded at $11.51. Approximately 53,141,402 shares were traded during mid-day trading, an increase of 14% from the average daily volume of 46,417,395 shares. The stock had previously closed at $11.99.

Wall Street Analyst Weigh In

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Several brokerages have weighed in on MARA. BTIG Research reaffirmed a "buy" rating and set a $27.00 target price on shares of Marathon Digital in a research note on Friday, September 5th. Macquarie lifted their price objective on shares of Marathon Digital from $26.00 to $29.00 and gave the company an "outperform" rating in a research note on Wednesday, October 22nd. Compass Point assumed coverage on shares of Marathon Digital in a report on Monday, September 15th. They issued a "neutral" rating and a $18.00 price objective for the company. Weiss Ratings reissued a "hold (c)" rating on shares of Marathon Digital in a research note on Wednesday, October 8th. Finally, Rosenblatt Securities dropped their price target on shares of Marathon Digital from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Wednesday, November 5th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Marathon Digital has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

Read Our Latest Stock Report on MARA

Marathon Digital Stock Performance

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The company has a fifty day moving average price of $17.84 and a two-hundred day moving average price of $16.67. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 10.37 and a beta of 6.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The business had revenue of $252.41 million during the quarter, compared to the consensus estimate of $254.58 million. As a group, equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Buying and Selling at Marathon Digital

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In related news, Director Vicki Mealer-Burke sold 14,887 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $15.22, for a total transaction of $226,580.14. Following the completion of the sale, the director directly owned 58,103 shares of the company's stock, valued at $884,327.66. This represents a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $19.57, for a total transaction of $538,272.85. Following the sale, the chief executive officer owned 3,718,700 shares of the company's stock, valued at $72,774,959. The trade was a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 172,361 shares of company stock valued at $3,130,259 over the last quarter. Company insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On Marathon Digital

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Marathon Digital by 9.8% during the third 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 last quarter. State Street Corp raised its holdings in Marathon Digital by 1.4% during the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider's stock worth $210,977,000 after buying an additional 191,380 shares during the period. UBS Group AG raised its holdings in Marathon Digital by 104.1% during the 3rd 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 during the period. Geode Capital Management LLC lifted its stake in Marathon Digital by 3.5% during the second quarter. Geode Capital Management LLC now owns 9,225,303 shares of the business services provider's stock valued at $144,669,000 after buying an additional 315,499 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Marathon Digital by 7.8% in the second quarter. American Century Companies Inc. now owns 6,781,198 shares of the business services provider's stock worth $106,329,000 after buying an additional 491,245 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

About Marathon Digital

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.

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