Marathon Digital (NASDAQ:MARA) Shares Down 1.3% – Time to Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares dropped 1.3% during trading on Wednesday . The company traded as low as $7.28 and last traded at $7.56. Approximately 49,130,980 shares changed hands during trading, an increase of 6% from the average daily volume of 46,562,707 shares. The stock had previously closed at $7.66.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Morgan Stanley initiated coverage on shares of Marathon Digital in a research note on Monday. They set an “underweight” rating and a $8.00 target price on the stock. Rosenblatt Securities cut their price objective on Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Macquarie Infrastructure lifted their target price on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Piper Sandler dropped their price target on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 14th. Finally, Compass Point upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Monday, November 24th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Marathon Digital has a consensus rating of “Hold” and an average price target of $21.00.

Marathon Digital Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09. The company has a market cap of $2.86 billion, a PE ratio of 4.20 and a beta of 5.56. The stock has a fifty day moving average price of $10.21 and a 200-day moving average price of $14.20.

Insider Buying and Selling at Marathon Digital

In other news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $11.99, for a total transaction of $416,436.68. Following the completion of the sale, the chief financial officer directly owned 283,298 shares in the company, valued at $3,396,743.02. The trade was a 10.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $10.80, for a total transaction of $297,054.00. Following the completion of the sale, the chief executive officer owned 3,517,566 shares of the company’s stock, valued at $37,989,712.80. This trade represents a 0.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 151,979 shares of company stock worth $1,738,228. 0.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MARA. Illinois Municipal Retirement Fund acquired a new stake in Marathon Digital in the 4th quarter worth approximately $1,787,000. Capital World Investors raised its position in shares of Marathon Digital by 0.6% in the fourth quarter. Capital World Investors now owns 2,954,764 shares of the business services provider’s stock valued at $26,534,000 after purchasing an additional 19,048 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of Marathon Digital by 14.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 43,748 shares of the business services provider’s stock worth $393,000 after buying an additional 5,422 shares during the last quarter. J.W. Cole Advisors Inc. bought a new stake in shares of Marathon Digital during the 4th quarter worth $137,000. Finally, CIBC Asset Management Inc bought a new position in Marathon Digital in the 4th quarter worth $205,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

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.