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

Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded down 1.7% during trading on Tuesday . The company traded as low as $9.31 and last traded at $9.33. 28,205,153 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 45,823,391 shares. The stock had previously closed at $9.49.

Analyst Ratings Changes

MARA has been the topic of a number of research analyst reports. Rosenblatt Securities dropped their target price on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Compass Point raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Monday, November 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Marathon Digital in a research report on Monday. Finally, Macquarie raised their price objective on shares of Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $23.56.

Marathon Digital Trading Down 1.7%

The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.63. The company has a fifty day simple moving average of $13.30 and a 200-day simple moving average of $15.76. The company has a market capitalization of $3.53 billion, a PE ratio of 5.18 and a beta of 5.42.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The firm had revenue of $252.41 million during the quarter, compared to analyst estimates of $254.58 million. Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. Analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Activity at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $10.77, for a total transaction of $296,228.85. Following the completion of the transaction, the chief executive officer directly owned 3,555,489 shares in the company, valued at $38,292,616.53. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $11.48, for a total value of $398,723.36. Following the transaction, the chief financial officer owned 248,566 shares of the company’s stock, valued at $2,853,537.68. This trade represents a 12.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 218,711 shares of company stock worth $3,286,669. Insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Hedge funds have recently bought and sold shares of the stock. Jump Financial LLC purchased a new stake in shares of Marathon Digital during the first quarter worth approximately $154,000. MetLife Investment Management LLC lifted its position in shares of Marathon Digital by 16.4% during the 1st quarter. MetLife Investment Management LLC now owns 198,220 shares of the business services provider’s stock worth $2,280,000 after buying an additional 27,900 shares during the last quarter. Corebridge Financial Inc. raised its stake in Marathon Digital by 16.5% during the 1st quarter. Corebridge Financial Inc. now owns 178,075 shares of the business services provider’s stock worth $2,048,000 after acquiring an additional 25,171 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its holdings in shares of Marathon Digital by 161.8% during the first quarter. Federation des caisses Desjardins du Quebec now owns 95,667 shares of the business services provider’s stock worth $1,100,000 after purchasing an additional 59,130 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of Marathon Digital by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock valued at $127,000 after purchasing an additional 991 shares during the last quarter. Institutional investors and hedge funds 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.