Marathon Digital (NASDAQ:MARA) Trading Down 4% – Here’s Why

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on MARA shares. Macquarie boosted their target price on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Compass Point began coverage on Marathon Digital in a report on Monday, September 15th. They set a “neutral” rating and a $18.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on shares of Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. BTIG Research reiterated a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research report on Friday, September 5th. Finally, Guggenheim began coverage on shares of Marathon Digital in a research note on Tuesday, October 21st. They issued a “neutral” rating for the company. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Marathon Digital presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Marathon Digital Stock Down 6.6%

The company has a market cap of $4.20 billion, a P/E ratio of 10.00 and a beta of 6.40. The stock has a 50-day moving average of $17.76 and a two-hundred day moving average of $16.65. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54.

Marathon Digital (NASDAQ:MARA) last issued 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). The business had revenue of $252.41 million for the quarter, compared to the consensus estimate of $254.58 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. On average, research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling at Marathon Digital

In related news, General Counsel Zabi Nowaid sold 25,113 shares of Marathon Digital stock in a transaction on Monday, November 10th. The shares were sold at an average price of $15.87, for a total value of $398,543.31. Following the transaction, the general counsel owned 723,136 shares in the company, valued at $11,476,168.32. This trade represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $16.24, for a total transaction of $564,047.68. Following the sale, the chief financial officer owned 318,428 shares of the company’s stock, valued at approximately $5,171,270.72. The trade was a 9.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 172,361 shares of company stock worth $3,130,259 in the last 90 days. 0.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marathon Digital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund increased its stake in Marathon Digital by 24.9% in the 1st quarter. New York State Common Retirement Fund now owns 105,719 shares of the business services provider’s stock worth $1,216,000 after purchasing an additional 21,100 shares during the period. CWM LLC boosted its stake in shares of Marathon Digital by 361.9% during the first quarter. CWM LLC now owns 14,360 shares of the business services provider’s stock valued at $165,000 after purchasing an additional 11,251 shares during the period. Sigma Planning Corp bought a new position in shares of Marathon Digital in the first quarter worth approximately $122,000. Victory Capital Management Inc. increased its stake in shares of Marathon Digital by 6.8% in the first quarter. Victory Capital Management Inc. now owns 72,251 shares of the business services provider’s stock worth $831,000 after buying an additional 4,597 shares during the period. Finally, Private Advisor Group LLC raised its holdings in Marathon Digital by 61.5% during the 1st quarter. Private Advisor Group LLC now owns 452,282 shares of the business services provider’s stock valued at $5,201,000 after buying an additional 172,196 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors.

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.