Marathon Digital (NASDAQ:MARA) Stock Price Down 2.9% - What's Next?

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price dropped 2.9% during mid-day trading on Tuesday . The stock traded as low as $14.63 and last traded at $14.88. Approximately 13,690,944 shares traded hands during trading, a decline of 70% from the average daily volume of 45,017,171 shares. The stock had previously closed at $15.32.

Wall Street Analyst Weigh In

A number of research firms have commented on MARA. Compass Point reissued a "sell" rating and issued a $9.50 price target (down previously from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. Barclays upped their target price on shares of Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. raised their price target on Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. HC Wainwright reaffirmed a "buy" rating and set a $28.00 price target on shares of Marathon Digital in a research note on Thursday, April 24th. Finally, Rosenblatt Securities boosted their target price on Marathon Digital from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $20.94.

Marathon Digital Stock Performance

The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average price of $14.69 and a 200 day moving average price of $16.03. The stock has a market cap of $5.04 billion, a PE ratio of -9.88 and a beta of 6.61.

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

Insider Activity

In other news, CEO Frederick G. Thiel sold 55,010 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $15.00, for a total transaction of $825,150.00. Following the transaction, the chief executive officer now directly owns 4,146,804 shares of the company's stock, valued at approximately $62,202,060. The trade was a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas K. Mellinger sold 3,000 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $16.00, for a total value of $48,000.00. Following the completion of the sale, the director now directly owns 176,859 shares of the company's stock, valued at $2,829,744. The trade was a 1.67% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,853 shares of company stock valued at $3,054,629. Insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Marathon Digital

A number of large investors have recently modified their holdings of the stock. Park Square Financial Group LLC purchased a new stake in Marathon Digital in the fourth quarter worth about $27,000. Sterling Capital Management LLC raised its position in shares of Marathon Digital by 358.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock worth $31,000 after acquiring an additional 1,426 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of Marathon Digital in the 4th quarter valued at approximately $50,000. Blue Trust Inc. lifted its stake in shares of Marathon Digital by 415.6% in the 4th quarter. Blue Trust Inc. now owns 3,341 shares of the business services provider's stock valued at $56,000 after purchasing an additional 2,693 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Marathon Digital by 211.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,500 shares of the business services provider's stock valued at $64,000 after purchasing an additional 2,375 shares in the last quarter. Institutional investors own 44.53% of the company's stock.

About Marathon Digital

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.