Marathon Digital (NASDAQ:MARA) Stock Price Down 6.2% – Here’s What Happened

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price traded down 6.2% on Friday . The stock traded as low as $11.96 and last traded at $11.99. 49,500,409 shares traded hands during trading, an increase of 7% from the average session volume of 46,384,934 shares. The stock had previously closed at $12.78.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. BTIG Research restated a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research report on Friday, September 5th. Compass Point started coverage on shares of Marathon Digital in a research report on Monday, September 15th. They issued a “neutral” rating and a $18.00 price target for the company. Guggenheim started coverage on shares of Marathon Digital in a research report on Tuesday, October 21st. They set a “neutral” rating on the stock. Piper Sandler upped their price objective on shares of Marathon Digital from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Digital in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.00.

Marathon Digital Stock Down 6.2%

The company has a market cap of $4.53 billion, a price-to-earnings ratio of 10.80 and a beta of 6.40. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. The business has a 50-day simple moving average of $17.98 and a two-hundred day simple moving average of $16.66.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data 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). Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The firm had revenue of $252.41 million for the quarter, compared to the consensus estimate of $254.58 million. As a group, equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Activity at Marathon Digital

In other Marathon Digital news, General Counsel Zabi Nowaid sold 25,113 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $15.87, for a total value of $398,543.31. Following the completion of the sale, the general counsel owned 723,136 shares in the company, valued at approximately $11,476,168.32. This trade represents a 3.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction on Monday, September 15th. The stock was sold at an average price of $16.24, for a total transaction of $564,047.68. Following the sale, the chief financial officer owned 318,428 shares in the company, valued at $5,171,270.72. This represents a 9.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 199,866 shares of company stock worth $3,550,536. 0.80% of the stock is owned by insiders.

Institutional Trading of Marathon Digital

A number of large investors have recently bought and sold shares of the stock. Hollencrest Capital Management boosted its holdings in Marathon Digital by 2,407.4% in the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 1,300 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 683 shares during the last quarter. Estabrook Capital Management bought a new stake in Marathon Digital during the second quarter worth about $31,000. Bessemer Group Inc. lifted its stake in Marathon Digital by 56.8% in the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 659 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Marathon Digital by 375.4% during the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock worth $40,000 after acquiring an additional 2,001 shares during the period. 44.53% of the stock is currently owned by 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.