Marathon Digital (NASDAQ:MARA) Stock Price Down 1.5% – Time to Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price traded down 1.5% during trading on Tuesday . The stock traded as low as $14.39 and last traded at $14.42. 37,661,076 shares changed hands during trading, a decline of 17% from the average session volume of 45,372,199 shares. The stock had previously closed at $14.64.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. HC Wainwright reaffirmed a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Rosenblatt Securities upped their target price on Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, May 1st. Weiss Ratings lowered Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. BTIG Research reaffirmed a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a report on Monday, June 1st. Finally, Cantor Fitzgerald lowered their target price on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.38.

Marathon Digital Stock Performance

The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average price of $12.31 and a 200-day moving average price of $10.53. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of -2.52 and a beta of 5.38.

Insider Transactions at Marathon Digital

In other news, CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $11.68, for a total transaction of $186,880.00. Following the completion of the transaction, the chief financial officer directly owned 441,066 shares in the company, valued at approximately $5,151,650.88. The trade was a 3.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $11.68, for a total value of $321,258.40. Following the completion of the sale, the chief executive officer owned 4,725,219 shares of the company’s stock, valued at $55,190,557.92. This trade represents a 0.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 137,350 shares of company stock worth $1,634,278. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Marathon Digital by 9.8% in the third quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock valued at $827,392,000 after buying an additional 4,049,979 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Marathon Digital in the third quarter valued at $4,643,000. Farallon Capital Management LLC increased its holdings in shares of Marathon Digital by 338.3% in the third quarter. Farallon Capital Management LLC now owns 3,660,000 shares of the business services provider’s stock valued at $66,832,000 after buying an additional 2,825,000 shares in the last quarter. Stevens Capital Management LP increased its holdings in shares of Marathon Digital by 446.6% in the third quarter. Stevens Capital Management LP now owns 319,549 shares of the business services provider’s stock valued at $5,835,000 after buying an additional 261,085 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Marathon Digital in the fourth quarter valued at $10,201,000. 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.