Marathon Digital (NASDAQ:MARA) Shares Down 2.7% – What’s Next?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares were down 2.7% during mid-day trading on Wednesday . The stock traded as low as $18.14 and last traded at $18.46. Approximately 14,468,812 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 53,641,703 shares. The stock had previously closed at $18.97.

Analyst Upgrades and Downgrades

Several analysts have commented on MARA shares. B. Riley increased their price target on shares of Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. HC Wainwright reiterated a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a report on Thursday, October 10th. Cantor Fitzgerald started coverage on Marathon Digital in a research note on Thursday, October 10th. They set an “overweight” rating and a $21.00 target price on the stock. Macquarie started coverage on Marathon Digital in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.79.

Marathon Digital Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75. The firm’s 50 day moving average price is $16.46 and its 200-day moving average price is $18.34. The firm has a market capitalization of $5.02 billion, a PE ratio of 11.00 and a beta of 5.50.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The company had revenue of $145.14 million during the quarter, compared to analyst estimates of $157.86 million. Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. Marathon Digital’s revenue was up 77.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.13) EPS. On average, research analysts expect that Marathon Digital Holdings, Inc. will post -1.05 EPS for the current year.

Insider Activity at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the transaction, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $15.70, for a total value of $262,190.00. Following the completion of the sale, the chief financial officer now directly owns 2,103,347 shares in the company, valued at $33,022,547.90. This represents a 0.00 % 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, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $481,337.50. Following the transaction, the chief executive officer now owns 4,250,804 shares in the company, valued at $74,389,070. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,417 shares of company stock valued at $1,516,536. 0.97% of the stock is owned by corporate insiders.

Institutional Trading of Marathon Digital

Several large investors have recently added to or reduced their stakes in MARA. Beaird Harris Wealth Management LLC grew its holdings in shares of Marathon Digital by 121.1% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 695 shares during the period. Signaturefd LLC lifted its holdings in Marathon Digital by 74.8% in the third quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 1,273 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new position in Marathon Digital in the first quarter worth approximately $90,000. DekaBank Deutsche Girozentrale acquired a new stake in Marathon Digital during the first quarter worth $105,000. Finally, GAMMA Investing LLC raised its position in Marathon Digital by 108.0% in the second quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock valued at $136,000 after purchasing an additional 3,565 shares during the period. 44.53% of the stock is currently owned by hedge funds and other 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.