Marathon Digital (NASDAQ:MARA) Stock Price Down 4.1% – Should You Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price fell 4.1% during mid-day trading on Thursday . The company traded as low as $7.14 and last traded at $7.25. 38,371,918 shares changed hands during trading, a decline of 17% from the average session volume of 46,285,246 shares. The stock had previously closed at $7.56.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MARA shares. Guggenheim began coverage on Marathon Digital in a report on Tuesday, October 21st. They set a “neutral” rating for the company. Macquarie Infrastructure upped 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. Piper Sandler reduced their price target on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Compass Point upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Monday, November 24th. Finally, Rosenblatt Securities reduced their target price on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Marathon Digital presently has a consensus rating of “Hold” and a consensus target price of $21.00.

Marathon Digital Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09. The stock’s 50 day moving average price is $10.11 and its two-hundred day moving average price is $14.15. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 4.03 and a beta of 5.56.

Insiders Place Their Bets

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,732 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $11.48, for a total transaction of $398,723.36. Following the transaction, the chief financial officer directly owned 248,566 shares in the company, valued at approximately $2,853,537.68. This represents a 12.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $10.80, for a total value of $297,054.00. Following the transaction, the chief executive officer owned 3,517,566 shares of the company’s stock, valued at $37,989,712.80. The trade was a 0.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 151,979 shares of company stock worth $1,738,228 over the last quarter. Company insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Several institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management boosted its position in shares of Marathon Digital by 2,407.4% during 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 stake in 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. Estabrook Capital Management acquired a new position in Marathon Digital during the 2nd quarter worth approximately $31,000. Salomon & Ludwin LLC acquired a new position in Marathon Digital during the 3rd quarter worth approximately $47,000. Finally, IFP Advisors Inc grew its stake in shares of Marathon Digital by 375.4% during the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock worth $40,000 after acquiring an additional 2,001 shares in the last quarter. 44.53% of the stock is owned by 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.