Marathon Digital (NASDAQ:MARA) Shares Down 1.5% – Time to Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) was down 1.5% on Tuesday . The company traded as low as $14.39 and last traded at $14.42. 37,661,076 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 45,372,199 shares. The stock had previously closed at $14.64.

Analysts Set New Price Targets

Several analysts recently issued reports on MARA shares. BTIG Research reiterated a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a report on Monday, June 1st. Rosenblatt Securities upped their target price on Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. HC Wainwright reaffirmed a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Weiss Ratings lowered Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Finally, Morgan Stanley lowered their price target on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday, May 19th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.38.

Marathon Digital Stock Up 2.2%

The firm has a market capitalization of $5.42 billion, a P/E ratio of -2.49 and a beta of 5.38. The business has a 50 day moving average price of $12.53 and a 200 day moving average price of $10.57. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84.

Insider Activity

In related news, CFO Salman Hassan Khan sold 16,000 shares of the company’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 $192,000.00. Following the sale, the chief financial officer owned 425,066 shares of the company’s stock, valued at $5,100,792. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $12.00, for a total transaction of $330,060.00. Following the transaction, the chief executive officer owned 4,589,514 shares of the company’s stock, valued at approximately $55,074,168. This represents a 0.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 137,350 shares of company stock worth $1,634,278. Corporate insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Several large investors have recently made changes to their positions in MARA. United Capital Management of KS Inc. grew its stake in Marathon Digital by 2.4% during the third quarter. United Capital Management of KS Inc. now owns 40,054 shares of the business services provider’s stock worth $731,000 after buying an additional 937 shares during the last quarter. CI Investments Inc. boosted its stake in Marathon Digital by 7.6% in the first quarter. CI Investments Inc. now owns 13,520 shares of the business services provider’s stock worth $110,000 after purchasing an additional 957 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Marathon Digital by 9.8% during the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after purchasing an additional 991 shares during the last quarter. Evexia Wealth LLC raised its holdings in shares of Marathon Digital by 9.2% in the first quarter. Evexia Wealth LLC now owns 12,937 shares of the business services provider’s stock valued at $106,000 after buying an additional 1,090 shares during the last quarter. Finally, Sigma Planning Corp lifted its position in Marathon Digital by 12.4% during the 4th quarter. Sigma Planning Corp now owns 11,924 shares of the business services provider’s stock worth $107,000 after buying an additional 1,320 shares in the last quarter. 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.