Marathon Digital (NASDAQ:MARA) Stock Price Down 1.7% – Time to Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price fell 1.7% during trading on Friday . The stock traded as low as $9.71 and last traded at $10.07. 56,254,751 shares changed hands during mid-day trading, an increase of 21% from the average session volume of 46,542,734 shares. The stock had previously closed at $10.24.

Analysts Set New Price Targets

Several research firms recently weighed in on MARA. JPMorgan Chase & Co. reduced their target price on Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, September 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Marathon Digital in a research note on Monday. Macquarie raised their target price on shares of Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Compass Point started coverage on shares of Marathon Digital in a report on Monday, September 15th. They issued a “neutral” rating and a $18.00 target price for the company. Finally, BTIG Research reaffirmed a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research note on Friday, September 5th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Marathon Digital Stock Performance

The stock’s 50-day moving average is $17.56 and its 200-day moving average is $16.57. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 9.07 and a beta of 6.40.

Marathon Digital (NASDAQ:MARA) last released 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 business had revenue of $252.41 million for the quarter, compared to analysts’ expectations of $254.58 million. On average, analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Buying and Selling

In other Marathon Digital news, General Counsel Zabi Nowaid sold 25,113 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $15.87, for a total transaction of $398,543.31. Following the transaction, the general counsel owned 723,136 shares in the company, valued at $11,476,168.32. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $17.38, for a total value of $478,036.90. Following the completion of the sale, the chief executive officer directly owned 3,755,789 shares of the company’s stock, valued at $65,275,612.82. The trade was a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 234,598 shares of company stock valued at $3,876,481. 0.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Marathon Digital by 9.8% in the 3rd 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 during the last quarter. State Street Corp boosted its position in Marathon Digital by 1.4% during the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock valued at $210,977,000 after purchasing an additional 191,380 shares during the period. UBS Group AG grew its position 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 during the last quarter. Geode Capital Management LLC grew its position in Marathon Digital by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 9,225,303 shares of the business services provider’s stock worth $144,669,000 after purchasing an additional 315,499 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Marathon Digital by 7.8% in the 2nd quarter. American Century Companies Inc. now owns 6,781,198 shares of the business services provider’s stock worth $106,329,000 after buying an additional 491,245 shares in the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

About Marathon Digital

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.