Marathon Digital (NASDAQ:MARA) Stock Price Down 3.4% – Time to Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares were down 3.4% during trading on Tuesday . The stock traded as low as $12.64 and last traded at $13.31. Approximately 48,215,770 shares changed hands during mid-day trading, an increase of 5% from the average daily volume of 45,805,547 shares. The stock had previously closed at $13.78.

Analyst Ratings Changes

Several research analysts recently commented on MARA shares. Rosenblatt Securities raised their price objective on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, May 1st. BTIG Research restated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research report on Monday, June 1st. Morgan Stanley cut their price objective on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a research report on Tuesday, May 19th. Weiss Ratings lowered shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Finally, HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Marathon Digital has an average rating of “Hold” and an average target price of $18.38.

Marathon Digital Price Performance

The business’s 50 day moving average is $11.96 and its two-hundred day moving average is $10.46. The firm has a market capitalization of $5.19 billion, a PE ratio of -2.38 and a beta of 5.38. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84.

Insider Activity at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $12.00, for a total value of $330,060.00. Following the sale, the chief executive officer directly owned 4,589,514 shares of the company’s stock, valued at $55,074,168. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Hassan Khan sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $12.00, for a total transaction of $192,000.00. Following the completion of the sale, the chief financial officer directly owned 425,066 shares in the company, valued at $5,100,792. This represents a 3.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 180,855 shares of company stock valued at $2,033,654 over the last three months. 0.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Marathon Digital by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock worth $419,422,000 after acquiring an additional 1,394,559 shares in the last quarter. State Street Corp raised its stake in shares of Marathon Digital by 1.4% during the second quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock worth $210,977,000 after acquiring an additional 191,380 shares in the last quarter. UBS Group AG raised its stake in shares of Marathon Digital by 104.1% during the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after acquiring an additional 6,172,110 shares in the last quarter. Marex Group plc raised its stake in shares of Marathon Digital by 2.6% during the fourth quarter. Marex Group plc now owns 10,137,713 shares of the business services provider’s stock worth $91,037,000 after acquiring an additional 259,210 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Marathon Digital by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock worth $89,434,000 after acquiring an additional 251,674 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

About Marathon Digital

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.