Marathon Digital (NASDAQ:MARA) Stock Price Down 5.9% – Time to Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded down 5.9% on Tuesday . The company traded as low as $8.33 and last traded at $8.33. 5,995,103 shares traded hands during trading, a decline of 87% from the average session volume of 46,611,590 shares. The stock had previously closed at $8.85.

Analyst Ratings Changes

A number of brokerages have issued reports on MARA. Weiss Ratings lowered Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, March 6th. Piper Sandler dropped their price target on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Morgan Stanley started coverage on shares of Marathon Digital in a report on Monday, February 9th. They issued an “underweight” rating and a $8.00 price target on the stock. Cantor Fitzgerald reduced their price objective on shares of Marathon Digital from $21.00 to $11.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Finally, HC Wainwright reissued a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Marathon Digital has an average rating of “Hold” and an average target price of $20.00.

Marathon Digital Stock Up 0.8%

The stock has a fifty day moving average price of $8.48 and a two-hundred day moving average price of $12.04. The firm has a market capitalization of $3.64 billion, a P/E ratio of -2.37 and a beta of 5.29. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.27 and a current ratio of 1.27.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($4.29). Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. The business had revenue of $202.31 million for the quarter, compared to the consensus estimate of $250.74 million. During the same quarter in the previous year, the firm earned $1.24 EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. Research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Transactions at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $9.18, for a total value of $146,880.00. Following the transaction, the chief financial officer owned 343,165 shares of the company’s stock, valued at $3,150,254.70. This trade represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $9.18, for a total value of $252,495.90. Following the sale, the chief executive officer owned 4,788,954 shares in the company, valued at $43,962,597.72. The trade was a 0.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 114,515 shares of company stock worth $1,029,678 in the last three months. 0.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Bessemer Group Inc. boosted its position in shares of Marathon Digital by 56.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 659 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Marathon Digital by 15.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider’s stock worth $108,000 after purchasing an additional 799 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Marathon Digital by 3.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 29,389 shares of the business services provider’s stock worth $537,000 after purchasing an additional 882 shares in the last quarter. United Capital Management of KS Inc. lifted its stake in Marathon Digital by 2.4% during the third quarter. United Capital Management of KS Inc. now owns 40,054 shares of the business services provider’s stock valued at $731,000 after purchasing an additional 937 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its holdings in Marathon Digital by 9.8% during the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after buying an additional 991 shares in the last quarter. Institutional investors 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.