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

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares fell 3.5% during mid-day trading on Friday . The company traded as low as $9.43 and last traded at $9.59. 28,164,638 shares changed hands during trading, a decline of 39% from the average session volume of 45,961,625 shares. The stock had previously closed at $9.94.

Analysts Set New Price Targets

MARA has been the topic of several research analyst reports. Compass Point raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Monday, November 24th. Guggenheim started coverage on Marathon Digital in a research report on Tuesday, October 21st. They set a “neutral” rating for the company. Rosenblatt Securities decreased their target price on Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Marathon Digital in a research note on Monday. Finally, Macquarie lifted their price objective on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Marathon Digital has an average rating of “Moderate Buy” and a consensus price target of $23.56.

Marathon Digital Stock Down 3.5%

The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63. The company has a 50 day simple moving average of $13.73 and a two-hundred day simple moving average of $15.86. The company has a market capitalization of $3.63 billion, a P/E ratio of 5.33 and a beta of 5.42.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $254.58 million. Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. As a group, equities analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Zabi Nowaid sold 25,113 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $15.87, for a total value of $398,543.31. Following the completion of the sale, the general counsel owned 723,136 shares in the company, valued at approximately $11,476,168.32. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $10.77, for a total transaction of $296,228.85. Following the transaction, the chief executive officer directly owned 3,555,489 shares of the company’s stock, valued at approximately $38,292,616.53. This represents a 0.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 218,711 shares of company stock valued at $3,286,669 over the last three months. 0.80% of the stock is owned by company insiders.

Institutional Trading of Marathon Digital

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Marathon Digital by 9.8% during the third quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock valued at $827,392,000 after buying an additional 4,049,979 shares during the period. State Street Corp lifted its stake in shares of Marathon Digital by 1.4% during the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock worth $210,977,000 after acquiring an additional 191,380 shares during the last quarter. UBS Group AG boosted its holdings in Marathon Digital by 104.1% during the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock valued at $220,922,000 after acquiring an additional 6,172,110 shares during the period. Geode Capital Management LLC grew its position in Marathon Digital by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 9,225,303 shares of the business services provider’s stock valued at $144,669,000 after acquiring an additional 315,499 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Marathon Digital by 7.8% in the second quarter. American Century Companies Inc. now owns 6,781,198 shares of the business services provider’s stock worth $106,329,000 after purchasing an additional 491,245 shares during the period. 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.