Marathon Digital (NASDAQ:MARA) Trading Down 2.7% - What's Next?

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price was down 2.7% during trading on Wednesday . The company traded as low as $18.14 and last traded at $18.46. Approximately 14,468,812 shares were traded during trading, a decline of 73% from the average daily volume of 53,641,703 shares. The stock had previously closed at $18.97.

Wall Street Analyst Weigh In

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

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Marathon Digital Stock Down 4.7 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75. The stock's fifty day simple moving average is $16.40 and its two-hundred day simple moving average is $18.34. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 8.40 and a beta of 5.50.

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

Insider Transactions at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 4,278,309 shares in the company, valued at $67,169,451.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $292,250.00. Following the transaction, the chief financial officer now directly owns 2,077,232 shares in the company, valued at approximately $36,351,560. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction on Friday, September 20th. The shares were 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 of the company's stock, valued at $67,169,451.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,417 shares of company stock valued at $1,516,536 in the last three months. 1.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MARA. Beaird Harris Wealth Management LLC increased its holdings 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 valued at $29,000 after purchasing an additional 695 shares during the period. Signaturefd LLC increased its stake in Marathon Digital by 74.8% in the 3rd quarter. Signaturefd LLC now owns 2,975 shares of the business services provider's stock valued at $48,000 after buying an additional 1,273 shares during the period. FinTrust Capital Advisors LLC purchased a new stake in Marathon Digital in the 1st quarter worth approximately $90,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Marathon Digital during the 1st quarter valued at $105,000. Finally, Tobam grew its holdings in shares of Marathon Digital by 173.0% during the 3rd quarter. Tobam now owns 7,701 shares of the business services provider's stock valued at $125,000 after acquiring an additional 4,880 shares in the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

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.