Marathon Digital (NASDAQ:MARA) Shares Gap Down – Time to Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price gapped down prior to trading on Monday . The stock had previously closed at $11.81, but opened at $11.08. Marathon Digital shares last traded at $11.0650, with a volume of 8,537,400 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. BTIG Research reaffirmed a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research note on Friday, September 5th. Macquarie boosted their price target on shares of Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Rosenblatt Securities decreased their price target on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Guggenheim assumed coverage on Marathon Digital in a research note on Tuesday, October 21st. They set a “neutral” rating for the company. Finally, Cantor Fitzgerald reduced their target price on Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Marathon Digital presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Marathon Digital Stock Up 3.4%

The stock’s fifty day moving average price is $16.55 and its 200 day moving average price is $16.38. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. The stock has a market cap of $4.50 billion, a P/E ratio of 10.73 and a beta of 6.40.

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

Insider Transactions at Marathon Digital

In other Marathon Digital news, Director Vicki Mealer-Burke sold 14,887 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $15.22, for a total value of $226,580.14. Following the completion of the sale, the director owned 58,103 shares of the company’s stock, valued at $884,327.66. This represents a 20.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $17.38, for a total transaction of $478,036.90. Following the transaction, the chief executive officer owned 3,755,789 shares in the company, valued at $65,275,612.82. The trade was a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 234,598 shares of company stock valued at $3,876,481 over the last 90 days. Company insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Marathon Digital by 18.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,276 shares of the business services provider’s stock worth $785,000 after purchasing an additional 10,811 shares during the period. US Bancorp DE grew its stake in shares of Marathon Digital by 265.4% during the first quarter. US Bancorp DE now owns 13,003 shares of the business services provider’s stock valued at $150,000 after buying an additional 9,444 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Marathon Digital in the first quarter worth about $14,810,000. Thoroughbred Financial Services LLC lifted its stake in shares of Marathon Digital by 49.8% in the 1st quarter. Thoroughbred Financial Services LLC now owns 57,925 shares of the business services provider’s stock valued at $666,000 after acquiring an additional 19,250 shares during the last quarter. Finally, Ranch Capital Advisors Inc. boosted its holdings in Marathon Digital by 5.8% during the 1st quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider’s stock valued at $168,000 after acquiring an additional 805 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.