Marathon Digital (NASDAQ:MARA) Stock Price Down 4.1% – Time to Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price traded down 4.1% during trading on Thursday . The company traded as low as $7.14 and last traded at $7.25. 38,371,918 shares were traded during trading, a decline of 17% from the average session volume of 46,285,246 shares. The stock had previously closed at $7.56.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MARA. Morgan Stanley began coverage on shares of Marathon Digital in a research report on Monday, February 9th. They set an “underweight” rating and a $8.00 target price on the stock. Piper Sandler lowered their price objective on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. Cantor Fitzgerald dropped their price objective on Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Weiss Ratings downgraded Marathon Digital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, February 5th. Finally, Guggenheim initiated coverage on Marathon Digital in a research report on Tuesday, October 21st. They issued a “neutral” rating on the stock. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Marathon Digital has an average rating of “Hold” and an average price target of $21.00.

Marathon Digital Stock Up 9.2%

The firm has a 50 day simple moving average of $9.93 and a two-hundred day simple moving average of $14.04. The stock has a market capitalization of $3.00 billion, a P/E ratio of 4.40 and a beta of 5.56. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63.

Insider Activity

In other news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $10.80, for a total value of $297,054.00. Following the completion of the transaction, the chief executive officer owned 3,517,566 shares of the company’s stock, valued at approximately $37,989,712.80. This represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $11.99, for a total transaction of $416,436.68. Following the sale, the chief financial officer directly owned 283,298 shares in the company, valued at $3,396,743.02. This trade represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 151,979 shares of company stock valued at $1,738,228. Insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC boosted its holdings in shares of Marathon Digital by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock valued at $127,000 after acquiring an additional 991 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Marathon Digital by 65.3% in the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock valued at $88,000 after buying an additional 3,032 shares during the period. United Services Automobile Association increased its stake in shares of Marathon Digital by 8.2% in the first quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock valued at $257,000 after buying an additional 1,569 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Marathon Digital by 11.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider’s stock valued at $7,398,000 after buying an additional 63,903 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Marathon Digital by 375.4% in the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after buying an additional 2,001 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Marathon Digital Company Profile

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.