Marathon Digital (NASDAQ:MARA) Shares Down 2.5% – Time to Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares fell 2.5% during mid-day trading on Monday . The stock traded as low as $10.62 and last traded at $11.52. 46,790,845 shares traded hands during trading, an increase of 1% from the average session volume of 46,494,246 shares. The stock had previously closed at $11.81.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MARA. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, November 24th. Cantor Fitzgerald cut their target price on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Marathon Digital in a research note on Monday. Rosenblatt Securities cut their price objective on Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, Guggenheim assumed coverage on Marathon Digital in a research report on Tuesday, October 21st. They issued a “neutral” rating for the company. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Marathon Digital Stock Performance

The company has a market capitalization of $4.72 billion, a PE ratio of 6.93 and a beta of 5.42. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.63. The business’s fifty day moving average is $16.45 and its two-hundred day moving average is $16.35.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The company 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 100.82% and a negative return on equity of 2.59%. Equities research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $11.99, for a total value of $416,436.68. Following the completion of the sale, the chief financial officer directly owned 283,298 shares of the company’s stock, valued at approximately $3,396,743.02. This represents a 10.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Zabi Nowaid sold 25,113 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $15.87, for a total value of $398,543.31. Following the sale, the general counsel owned 723,136 shares of the company’s stock, valued at $11,476,168.32. This represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 234,598 shares of company stock worth $3,876,481. Corporate insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Marathon Digital

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Marathon Digital by 18.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,276 shares of the business services provider’s stock worth $785,000 after purchasing an additional 10,811 shares during the period. US Bancorp DE lifted its position in Marathon Digital by 265.4% in the first quarter. US Bancorp DE now owns 13,003 shares of the business services provider’s stock worth $150,000 after buying an additional 9,444 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in Marathon Digital during the first quarter worth $14,810,000. Thoroughbred Financial Services LLC increased its position in Marathon Digital by 49.8% during the first quarter. Thoroughbred Financial Services LLC now owns 57,925 shares of the business services provider’s stock valued at $666,000 after acquiring an additional 19,250 shares during the last quarter. Finally, Ranch Capital Advisors Inc. increased its position in Marathon Digital by 5.8% during the first quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider’s stock valued at $168,000 after acquiring an additional 805 shares during the last quarter. 44.53% of the stock is 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.