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

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) gapped down before the market opened on Monday . The stock had previously closed at $11.81, but opened at $11.08. Marathon Digital shares last traded at $11.0650, with a volume of 8,537,400 shares trading hands.

Analyst Upgrades and Downgrades

MARA has been the subject of a number of research analyst reports. Rosenblatt Securities reduced their target price on Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Compass Point raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a report on Monday, November 24th. Cantor Fitzgerald reduced their price objective on Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. JPMorgan Chase & Co. cut their target price 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. Finally, Guggenheim initiated coverage on Marathon Digital in a research report on Tuesday, October 21st. They set a “neutral” rating on the stock. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Marathon Digital Stock Performance

The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 10.06 and a beta of 6.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a 50 day moving average price of $16.80 and a 200-day moving average price of $16.44.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). The business had revenue of $252.41 million during the quarter, compared to analyst estimates of $254.58 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. As a group, sell-side analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, Director Vicki Mealer-Burke sold 14,887 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $15.22, for a total value of $226,580.14. Following the transaction, the director owned 58,103 shares in the company, valued at $884,327.66. The trade was a 20.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Zabi Nowaid sold 25,113 shares of the firm’s stock in a transaction dated 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 in the company, valued at $11,476,168.32. This represents a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 234,598 shares of company stock valued at $3,876,481 in the last quarter. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Marathon Digital

A number of hedge funds have recently added to or reduced their stakes in MARA. UBS Group AG lifted its position in Marathon Digital by 104.1% in the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after purchasing an additional 6,172,110 shares during the period. Marex Group plc acquired a new stake in Marathon Digital during the second quarter worth approximately $84,301,000. Voloridge Investment Management LLC bought a new stake in shares of Marathon Digital during the 3rd quarter worth approximately $93,066,000. Vanguard Group Inc. grew its stake in shares of Marathon Digital by 9.8% in the third quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock worth $827,392,000 after purchasing an additional 4,049,979 shares during the last quarter. Finally, Norges Bank acquired a new position in Marathon Digital during the 2nd quarter worth approximately $59,255,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Company Profile

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.