Marathon Digital (NASDAQ:MARA) Stock Price Down 2.7% – Here’s Why

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares traded down 2.7% during trading on Wednesday . The company traded as low as $18.14 and last traded at $18.46. 14,468,812 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 53,641,703 shares. The stock had previously closed at $18.97.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Cantor Fitzgerald began coverage on Marathon Digital in a research report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective on the stock. B. Riley boosted their target price on Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Macquarie assumed coverage on Marathon Digital in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $19.79.

Marathon Digital Stock Down 6.5 %

The firm has a 50-day moving average price of $16.34 and a two-hundred day moving average price of $18.34. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 8.29 and a beta of 5.50. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The company had revenue of $145.14 million for the quarter, compared to analyst estimates of $157.86 million. Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The firm’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.13) EPS. On average, sell-side analysts forecast that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the sale, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Marathon Digital news, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the sale, the chief executive officer now owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $481,337.50. Following the completion of the transaction, the chief executive officer now directly owns 4,250,804 shares in the company, valued at $74,389,070. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,417 shares of company stock valued at $1,516,536. 1.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marathon Digital

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Beaird Harris Wealth Management LLC lifted its stake in shares of Marathon Digital by 121.1% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after acquiring an additional 695 shares during the period. Ranch Capital Advisors Inc. lifted its position in Marathon Digital by 6.1% in the second quarter. Ranch Capital Advisors Inc. now owns 13,532 shares of the business services provider’s stock valued at $269,000 after purchasing an additional 780 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Marathon Digital by 4.1% in the 1st quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock valued at $505,000 after purchasing an additional 881 shares in the last quarter. Signaturefd LLC increased its position in Marathon Digital by 74.8% during the 3rd quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock worth $48,000 after purchasing an additional 1,273 shares during the period. Finally, Impact Partnership Wealth LLC increased its position in Marathon Digital by 7.6% during the 3rd quarter. Impact Partnership Wealth LLC now owns 19,766 shares of the business services provider’s stock worth $321,000 after purchasing an additional 1,394 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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.