Marathon Digital (NASDAQ:MARA) Stock Price Down 5.2% – Here’s Why

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price was down 5.2% during mid-day trading on Monday . The company traded as low as $16.39 and last traded at $16.73. Approximately 19,496,945 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 45,088,446 shares. The stock had previously closed at $17.66.

Analyst Ratings Changes

MARA has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $28.00 price target on shares of Marathon Digital in a report on Thursday, April 24th. Compass Point reissued a “sell” rating and set a $9.50 price objective (down from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. Barclays boosted their price objective on shares of Marathon Digital from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Piper Sandler decreased their price target on shares of Marathon Digital from $30.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Finally, Rosenblatt Securities upped their price target on shares of Marathon Digital from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.94.

Marathon Digital Trading Down 6.9%

The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. The business’s 50-day simple moving average is $15.23 and its two-hundred day simple moving average is $15.38. The company has a market capitalization of $5.79 billion, a PE ratio of -11.33 and a beta of 6.53.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.06). The firm had revenue of $213.88 million during the quarter, compared to analysts’ expectations of $234.19 million. Marathon Digital had a negative net margin of 46.68% and a positive return on equity of 6.33%. The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 earnings per share. On average, analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Buying and Selling at Marathon Digital

In other news, Director Douglas K. Mellinger sold 3,000 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $16.00, for a total value of $48,000.00. Following the sale, the director owned 176,859 shares in the company, valued at approximately $2,829,744. This represents a 1.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 34,733 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $15.85, for a total transaction of $550,518.05. Following the completion of the sale, the chief financial officer owned 1,413,298 shares in the company, valued at approximately $22,400,773.30. This trade represents a 2.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 198,853 shares of company stock valued at $3,054,629 in the last ninety days. Insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

A number of institutional investors have recently modified their holdings of MARA. US Bancorp DE raised its stake in shares of Marathon Digital by 73.3% in the 4th quarter. US Bancorp DE now owns 3,559 shares of the business services provider’s stock valued at $60,000 after purchasing an additional 1,505 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Marathon Digital by 589.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,962 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 3,387 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Marathon Digital by 55.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,845 shares of the business services provider’s stock valued at $266,000 after purchasing an additional 5,625 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Marathon Digital by 14.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,028,457 shares of the business services provider’s stock valued at $50,787,000 after purchasing an additional 372,094 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Marathon Digital by 16.5% in the 4th quarter. Victory Capital Management Inc. now owns 67,654 shares of the business services provider’s stock valued at $1,135,000 after purchasing an additional 9,562 shares in the last quarter. 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.