Marathon Digital (NASDAQ:MARA) Trading Down 2.7% – Should You Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares traded down 2.7% during trading on Tuesday . The stock traded as low as $9.69 and last traded at $9.86. 31,932,678 shares traded hands during trading, a decline of 31% from the average session volume of 46,163,090 shares. The stock had previously closed at $10.13.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MARA. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Monday, November 24th. Cantor Fitzgerald decreased their target price on Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Macquarie upped their target price on shares of Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Guggenheim assumed coverage on shares of Marathon Digital in a research note on Tuesday, October 21st. They issued a “neutral” rating for the company. Finally, 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. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Marathon Digital currently has an average rating of “Moderate Buy” and an average target price of $23.56.

Marathon Digital Trading Down 2.8%

The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $3.73 billion, a PE ratio of 5.47 and a beta of 5.42. The stock’s fifty day simple moving average is $14.44 and its 200 day simple moving average is $15.98.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). The business 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%. On average, sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Zabi Nowaid sold 25,113 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $15.87, for a total transaction of $398,543.31. Following the sale, the general counsel directly owned 723,136 shares in the company, valued at $11,476,168.32. This trade represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $10.77, for a total value of $296,228.85. Following the completion of the transaction, the chief executive officer owned 3,555,489 shares in the company, valued at $38,292,616.53. The trade was a 0.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 218,711 shares of company stock worth $3,286,669. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Marathon Digital

Hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management increased its holdings in Marathon Digital by 2,407.4% in the 3rd 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 grew 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 in the last quarter. Estabrook Capital Management bought a new stake in Marathon Digital in the second quarter worth $31,000. Bessemer Group Inc. raised its stake in Marathon Digital by 56.8% during the third 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. Finally, IFP Advisors Inc raised its stake in Marathon Digital by 375.4% during the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 2,001 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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.