Marathon Digital (NASDAQ:MARA) Shares Down 2.9% – What’s Next?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price fell 2.9% during trading on Friday . The stock traded as low as $17.20 and last traded at $17.69. 22,795,625 shares traded hands during trading, a decline of 57% from the average session volume of 53,613,691 shares. The stock had previously closed at $18.22.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Cantor Fitzgerald started coverage on Marathon Digital in a research report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 target price on the stock. B. Riley raised their price objective 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 initiated coverage on Marathon Digital in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.79.

Marathon Digital Stock Down 4.1 %

The business’s fifty day simple moving average is $16.46 and its two-hundred day simple moving average is $18.34. The company has a market cap of $5.14 billion, a PE ratio of 11.39 and a beta of 5.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings results 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). Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The business had revenue of $145.14 million during the quarter, compared to analyst estimates of $157.86 million. During the same period in the previous year, the company posted ($0.13) EPS. The business’s revenue for the quarter was up 77.5% compared to the same quarter last year. On average, analysts predict that Marathon Digital Holdings, Inc. will post -1.05 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital 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 sale, the chief executive officer now directly owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the sale, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the transaction, the chief executive officer now directly owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,417 shares of company stock valued at $1,516,536. 0.97% of the stock is owned by corporate insiders.

Institutional Trading of Marathon Digital

Large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue boosted its holdings in shares of Marathon Digital by 4.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 168,151 shares of the business services provider’s stock worth $2,727,000 after purchasing an additional 7,363 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Marathon Digital by 3.7% during the third quarter. Louisiana State Employees Retirement System now owns 142,400 shares of the business services provider’s stock worth $2,310,000 after buying an additional 5,100 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Marathon Digital by 50.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 143,188 shares of the business services provider’s stock valued at $2,323,000 after buying an additional 47,965 shares in the last quarter. Impact Partnership Wealth LLC increased its stake in shares of Marathon Digital by 7.6% in the 3rd quarter. Impact Partnership Wealth LLC now owns 19,766 shares of the business services provider’s stock worth $321,000 after acquiring an additional 1,394 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Marathon Digital by 1,522.0% during the 3rd quarter. International Assets Investment Management LLC now owns 19,561 shares of the business services provider’s stock worth $317,000 after acquiring an additional 18,355 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Company Profile

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.