Marathon Digital (NASDAQ:MARA) Shares Down 3.5% – Should You Sell?

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded down 3.5% during trading on Wednesday . The company traded as low as $13.89 and last traded at $13.92. 34,163,618 shares traded hands during trading, a decline of 25% from the average session volume of 45,305,262 shares. The stock had previously closed at $14.42.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Weiss Ratings cut shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Rosenblatt Securities lifted their price target on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. BTIG Research reaffirmed a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research note on Monday, June 1st. Cantor Fitzgerald dropped their price target on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Marathon Digital has an average rating of “Hold” and a consensus target price of $18.38.

Marathon Digital Stock Performance

The company has a market capitalization of $5.31 billion, a PE ratio of -2.43 and a beta of 5.38. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.99. The firm’s 50-day simple moving average is $12.42 and its 200-day simple moving average is $10.55.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, General Counsel Zabi Nowaid sold 8,250 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $12.00, for a total value of $99,000.00. Following the completion of the sale, the general counsel directly owned 970,768 shares of the company’s stock, valued at $11,649,216. The trade was a 0.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $12.00, for a total transaction of $192,000.00. Following the completion of the sale, the chief financial officer directly owned 425,066 shares of the company’s stock, valued at approximately $5,100,792. This trade represents a 3.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 137,350 shares of company stock valued at $1,634,278 in the last three months. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Marathon Digital by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock valued at $419,422,000 after purchasing an additional 1,394,559 shares in the last quarter. State Street Corp raised its holdings in shares of Marathon Digital by 1.4% in the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock valued at $210,977,000 after purchasing an additional 191,380 shares in the last quarter. UBS Group AG raised its holdings in shares of Marathon Digital by 104.1% in the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock valued at $220,922,000 after purchasing an additional 6,172,110 shares in the last quarter. Marex Group plc raised its holdings in shares of Marathon Digital by 2.6% in the 4th quarter. Marex Group plc now owns 10,137,713 shares of the business services provider’s stock valued at $91,037,000 after purchasing an additional 259,210 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Marathon Digital by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock valued at $89,434,000 after purchasing an additional 251,674 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.