Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Free Report) shares were down 7.1% during trading on Thursday . The company traded as low as $11.25 and last traded at $11.42. 44,147,639 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 45,494,063 shares. The stock had previously closed at $12.29.
Key Headlines Impacting Marathon Digital
Here are the key news stories impacting Marathon Digital this week:
- Neutral Sentiment: MARA remains one of the more heavily watched crypto-mining stocks, which can keep trading activity elevated even when there is no major company-specific announcement. Marathon Digital Holdings, Inc. (MARA) Is a Trending Stock: Facts to Know Before Betting on It
- Neutral Sentiment: Piper Sandler cut its price target on Marathon Digital to $13 from $16, though it kept an overweight rating, signaling continued long-term confidence despite a lower near-term valuation estimate. Benzinga report on Piper Sandler price target cut
- Negative Sentiment: MARA fell more than the broader market in the latest session, extending its recent weakness and suggesting investors are still cautious around the stock’s volatility and outlook. Here’s Why Marathon Digital Holdings, Inc. (MARA) Fell More Than Broader Market
- Negative Sentiment: The stock declined again in the most recent trading session, reinforcing a short-term downtrend as investors appear to be taking profits or trimming exposure. Marathon Digital Holdings, Inc. (MARA) Declines More Than Market: Some Information for Investors
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Citizens Jmp assumed coverage on Marathon Digital in a research note on Wednesday, June 24th. They issued a “market outperform” rating and a $24.00 price target on the stock. Weiss Ratings cut shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Rosenblatt Securities increased their price target on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Morgan Stanley lowered their price target on shares of Marathon Digital from $7.00 to $5.50 and set an “underweight” rating for the company in a research report on Wednesday, July 8th. Finally, Cantor Fitzgerald dropped their price objective on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.50.
Marathon Digital Stock Performance
The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. The business has a 50 day moving average price of $13.37 and a 200 day moving average price of $10.89. The stock has a market capitalization of $4.08 billion, a PE ratio of -1.87 and a beta of 5.36.
Insider Activity
In related news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total value of $391,946.25. Following the transaction, the chief executive officer directly owned 4,562,009 shares of the company’s stock, valued at approximately $65,008,628.25. This represents a 0.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 8,250 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $12.00, for a total value of $99,000.00. Following the sale, the general counsel owned 970,768 shares in the company, valued at approximately $11,649,216. This represents a 0.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 109,260 shares of company stock worth $1,452,756. Corporate insiders own 0.97% of the company’s stock.
Hedge Funds Weigh In On Marathon Digital
A number of hedge funds have recently bought and sold shares of MARA. Vanguard Group Inc. lifted its holdings in Marathon Digital by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock valued at $419,422,000 after acquiring an additional 1,394,559 shares during the period. State Street Corp lifted its stake in shares of Marathon Digital by 1.4% in the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock worth $210,977,000 after purchasing an additional 191,380 shares during the period. UBS Group AG boosted its holdings in shares of Marathon Digital by 104.1% in the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after buying an additional 6,172,110 shares during the last quarter. Marex Group plc boosted its holdings in shares of Marathon Digital by 2.6% in the fourth quarter. Marex Group plc now owns 10,137,713 shares of the business services provider’s stock worth $91,037,000 after buying an additional 259,210 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in 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 valued at $89,434,000 after buying an additional 251,674 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.
Marathon Digital Company Profile
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.
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