Marathon Digital (NASDAQ:MARA) Stock Price Down 1.8% – Here’s What Happened

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price traded down 1.8% during trading on Monday . The stock traded as low as $15.56 and last traded at $15.58. 36,789,828 shares changed hands during trading, a decline of 21% from the average session volume of 46,337,195 shares. The stock had previously closed at $15.87.

Analyst Ratings Changes

MARA has been the topic of a number of recent research reports. Cantor Fitzgerald cut their price objective on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Piper Sandler raised their price objective on Marathon Digital from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Guggenheim initiated coverage on Marathon Digital in a report on Tuesday, October 21st. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. reduced their price target on Marathon Digital from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, September 26th. Finally, Macquarie lifted their price target on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Marathon Digital presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Marathon Digital Price Performance

The firm has a 50-day moving average of $18.09 and a 200 day moving average of $16.69. The company has a market capitalization of $5.89 billion, a PE ratio of 14.04 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.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The company had revenue of $252.41 million for the quarter, compared to the consensus estimate 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, research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $19.57, for a total value of $538,272.85. Following the completion of the sale, the chief executive officer owned 3,718,700 shares of the company’s stock, valued at approximately $72,774,959. The trade was a 0.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $22.74, for a total value of $789,805.68. Following the transaction, the chief financial officer directly owned 318,030 shares in the company, valued at $7,232,002.20. The trade was a 9.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 203,598 shares of company stock worth $3,600,164. 0.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Marathon Digital

A number of large investors have recently made changes to their positions in the company. Bessemer Group Inc. lifted its stake in shares of Marathon Digital by 56.8% in the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after purchasing an additional 659 shares during the period. Fifth Third Bancorp increased its holdings in Marathon Digital by 59.9% during the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after buying an additional 683 shares during the last quarter. CX Institutional increased its holdings in Marathon Digital by 12.6% during the second quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock valued at $105,000 after buying an additional 749 shares during the last quarter. Archer Investment Corp raised its position in Marathon Digital by 10.9% in the second quarter. Archer Investment Corp now owns 7,650 shares of the business services provider’s stock worth $120,000 after acquiring an additional 750 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Marathon Digital by 15.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider’s stock worth $108,000 after acquiring an additional 799 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors.

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.