Marathon Digital (NASDAQ:MARA) Trading Down 1.6% – Should You Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares traded down 1.6% during mid-day trading on Monday . The stock traded as low as $13.67 and last traded at $14.09. 13,570,547 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 44,976,555 shares. The stock had previously closed at $14.32.

Analyst Upgrades and Downgrades

Several analysts have commented on MARA shares. HC Wainwright reissued a “buy” rating and set a $28.00 price target on shares of Marathon Digital in a research report on Thursday, April 24th. Rosenblatt Securities upped their price target on Marathon Digital from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Barclays upped their target price on Marathon Digital from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Piper Sandler dropped their price target on Marathon Digital from $30.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Marathon Digital in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.94.

Marathon Digital Stock Performance

The firm has a fifty day moving average of $14.69 and a 200 day moving average of $15.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of -9.76 and a beta of 6.62.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.06). Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The firm had revenue of $213.88 million for the quarter, compared to analysts’ expectations of $234.19 million. During the same period in the previous year, the company earned $1.26 earnings per share. The company’s revenue was up 29.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Douglas K. Mellinger sold 3,000 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $16.00, for a total value of $48,000.00. Following the completion of the sale, the director now directly owns 176,859 shares in the company, valued at $2,829,744. This represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $15.68, for a total transaction of $261,856.00. Following the transaction, the chief financial officer now owns 1,598,943 shares in the company, valued at $25,071,426.24. The trade was a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,853 shares of company stock worth $3,054,629 over the last quarter. 0.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Marathon Digital

A number of hedge funds and other institutional investors have recently modified their holdings of MARA. United Services Automobile Association boosted its position in shares of Marathon Digital by 3.4% during the 4th quarter. United Services Automobile Association now owns 19,065 shares of the business services provider’s stock valued at $320,000 after acquiring an additional 635 shares during the last quarter. Ranch Capital Advisors Inc. boosted its holdings in Marathon Digital by 5.8% in the 1st quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider’s stock valued at $168,000 after purchasing an additional 805 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Marathon Digital by 5.1% in the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider’s stock valued at $304,000 after purchasing an additional 878 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Marathon Digital by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock valued at $127,000 after buying an additional 991 shares during the period. Finally, CoreCap Advisors LLC increased its holdings in shares of Marathon Digital by 7.3% during the 4th quarter. CoreCap Advisors LLC now owns 14,541 shares of the business services provider’s stock worth $244,000 after buying an additional 992 shares during the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

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.