Marathon Digital (NASDAQ:MARA) Stock Price Down 1.7% – What’s Next?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares fell 1.7% during mid-day trading on Friday . The company traded as low as $9.71 and last traded at $10.07. 56,254,751 shares changed hands during mid-day trading, an increase of 21% from the average session volume of 46,542,734 shares. The stock had previously closed at $10.24.

Analysts Set New Price Targets

MARA has been the topic of several research analyst reports. Rosenblatt Securities lowered 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. Cantor Fitzgerald lowered their price objective on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. JPMorgan Chase & Co. dropped their target price on Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, September 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Marathon Digital in a research report on Monday. Finally, BTIG Research reaffirmed a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research note on Friday, September 5th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Marathon Digital Price Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. The company’s 50 day moving average price is $17.56 and its 200-day moving average price is $16.57. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 9.07 and a beta of 6.40.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The business had revenue of $252.41 million for the quarter, compared to analyst estimates of $254.58 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. On average, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Vicki Mealer-Burke sold 14,887 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $15.22, for a total transaction of $226,580.14. Following the completion of the sale, the director directly owned 58,103 shares of the company’s stock, valued at $884,327.66. This trade represents a 20.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction on Monday, November 17th. The stock was sold at an average price of $11.99, for a total value of $329,784.95. Following the completion of the transaction, the chief executive officer owned 3,582,994 shares in the company, valued at $42,960,098.06. The trade was a 0.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 234,598 shares of company stock worth $3,876,481 over the last quarter. 0.80% of the stock is currently owned by insiders.

Institutional Trading of Marathon Digital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management boosted its holdings in shares of Marathon Digital by 2,407.4% in the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock worth $25,000 after buying an additional 1,300 shares during the period. Bessemer Group Inc. lifted its position in shares of Marathon Digital by 56.8% in the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 659 shares in the last quarter. Fifth Third Bancorp boosted its stake in Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after purchasing an additional 683 shares during the period. Estabrook Capital Management purchased a new position in Marathon Digital during the 2nd quarter worth approximately $31,000. Finally, Salomon & Ludwin LLC acquired a new stake in Marathon Digital during the 3rd quarter valued at $47,000. Institutional investors and hedge funds 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.