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

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price dropped 3.5% during trading on Wednesday . The stock traded as low as $13.89 and last traded at $13.92. Approximately 34,163,618 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 45,305,262 shares. The stock had previously closed at $14.42.

Wall Street Analysts Forecast Growth

MARA has been the subject of several recent research reports. BTIG Research restated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a report on Monday, June 1st. Rosenblatt Securities boosted their price target on shares of Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, May 1st. Cantor Fitzgerald reduced their price target on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Finally, Morgan Stanley reduced their price target on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a report 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.38.

Marathon Digital Stock Performance

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

Insider Buying and Selling

In related news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $11.68, for a total transaction of $321,258.40. Following the completion of the transaction, the chief executive officer owned 4,725,219 shares in the company, valued at $55,190,557.92. The trade was a 0.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 that occurred on Friday, April 17th. The stock was sold at an average price of $11.68, for a total transaction of $186,880.00. Following the transaction, the chief financial officer owned 441,066 shares of the company’s stock, valued at approximately $5,151,650.88. This trade represents a 3.50% decrease in their position. 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 worth $1,634,278 in the last 90 days. 0.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Ascentis Independent Advisors bought a new position in shares of Marathon Digital during the 1st quarter worth approximately $28,000. Bogart Wealth LLC increased its stake in Marathon Digital by 4,345.1% during the 1st quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 3,954 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Marathon Digital during the 4th quarter valued at approximately $36,000. Hantz Financial Services Inc. increased its stake in Marathon Digital by 344.8% during the 4th quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 3,893 shares in the last quarter. Finally, Danske Bank A S increased its stake in Marathon Digital by 93.3% during the 4th quarter. Danske Bank A S now owns 5,800 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 2,800 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.