Marathon Digital (NASDAQ:MARA) Stock Price Down 8.7% – What’s Next?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) dropped 8.7% on Tuesday . The company traded as low as $10.22 and last traded at $10.37. Approximately 44,931,972 shares traded hands during trading, an increase of 8% from the average daily volume of 41,495,348 shares. The stock had previously closed at $11.36.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Compass Point upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Monday, November 24th. Guggenheim assumed coverage on Marathon Digital in a research report on Tuesday, October 21st. They set a “neutral” rating on the stock. Rosenblatt Securities decreased their price objective on Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Marathon Digital in a report on Monday, December 29th. Finally, Piper Sandler lowered their price target on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Marathon Digital has a consensus rating of “Moderate Buy” and a consensus target price of $22.44.

Marathon Digital Stock Down 8.7%

The firm has a 50 day moving average of $10.91 and a 200-day moving average of $15.18. The stock has a market capitalization of $3.92 billion, a P/E ratio of 5.76 and a beta of 5.34. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Marathon Digital had a negative return on equity of 2.59% and a net margin of 100.82%.The firm had revenue of $252.41 million during the quarter, compared to the consensus estimate of $254.58 million. On average, equities research 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 related news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $10.77, for a total value of $296,228.85. Following the completion of the transaction, the chief executive officer owned 3,555,489 shares in the company, valued at $38,292,616.53. The trade was a 0.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction on Monday, December 15th. The shares were sold at an average price of $11.48, for a total value of $398,723.36. Following the completion of the sale, the chief financial officer directly owned 248,566 shares of the company’s stock, valued at $2,853,537.68. This trade represents a 12.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 155,474 shares of company stock worth $1,937,880. 0.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Marathon Digital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. acquired a new position in Marathon Digital during the 4th quarter valued at about $149,000. Hennion & Walsh Asset Management Inc. bought a new position in Marathon Digital in the fourth quarter valued at approximately $260,000. Exchange Traded Concepts LLC grew its holdings in Marathon Digital by 47.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,539,210 shares of the business services provider’s stock worth $13,822,000 after acquiring an additional 494,161 shares during the period. Generali Investments CEE investicni spolecnost a.s. raised its position in shares of Marathon Digital by 31.4% during the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 177,234 shares of the business services provider’s stock valued at $1,592,000 after acquiring an additional 42,305 shares during the last quarter. Finally, Synergy Asset Management LLC acquired a new position in shares of Marathon Digital in the 4th quarter valued at $132,000. 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.