Marathon Digital (NASDAQ:MARA) Trading Down 4% – What’s Next?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price was down 4% during mid-day trading on Monday . The stock traded as low as $8.91 and last traded at $9.12. Approximately 48,216,988 shares were traded during mid-day trading, an increase of 17% from the average daily volume of 41,294,648 shares. The stock had previously closed at $9.50.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MARA. Piper Sandler dropped their target price on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. Guggenheim initiated coverage on Marathon Digital in a research note on Tuesday, October 21st. They set a “neutral” rating for the company. JPMorgan Chase & Co. cut their price objective on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, November 24th. Macquarie lifted their target price on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Cantor Fitzgerald lowered their target price on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Marathon Digital presently has a consensus rating of “Moderate Buy” and an average price target of $22.44.

Marathon Digital Stock Down 4.0%

The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.09 and a current ratio of 2.09. The company has a fifty day simple moving average of $10.66 and a two-hundred day simple moving average of $14.71. The firm has a market capitalization of $3.45 billion, a PE ratio of 5.07 and a beta of 5.34.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. The firm had revenue of $252.41 million during the quarter, compared to the consensus estimate of $254.58 million. Analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Activity

In related news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $10.80, for a total transaction of $297,054.00. Following the transaction, the chief executive officer directly owned 3,517,566 shares of the company’s stock, valued at $37,989,712.80. This trade represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Zabi Nowaid sold 25,113 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $15.87, for a total transaction of $398,543.31. Following the completion of the transaction, the general counsel directly owned 723,136 shares of the company’s stock, valued at $11,476,168.32. This trade represents a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 182,979 shares of company stock worth $2,234,934. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

A number of institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management raised its holdings in 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 purchasing an additional 1,300 shares in the last quarter. Estabrook Capital Management bought a new position in shares of Marathon Digital during the 2nd quarter worth approximately $31,000. Bessemer Group Inc. lifted its position in Marathon Digital by 56.8% during the third 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 during the last quarter. IFP Advisors Inc boosted its stake in Marathon Digital by 375.4% in the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 2,001 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in Marathon Digital in the third quarter worth $47,000. Institutional investors own 44.53% of the company’s stock.

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.