Marathon Digital (NASDAQ:MARA) Shares Down 1.6% - Time to Sell?

Key Points

• Marathon Digital's stock (NASDAQ:MARA) fell by 1.6% on Tuesday, trading between $19.12 and $20.25, with a total volume increase of 21% compared to its average daily trading volume.
• The company received a range of analyst ratings, including a "neutral" rating with a $18.00 price target from Compass Point, while Piper Sandler set a price target of $26.00 with an "overweight" rating.
• In the last quarter, CEO Frederick G. Thiel sold 27,505 shares at an average price of $17.38, resulting in a 0.73% decrease in his ownership stake in the company.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) was down 1.6% on Tuesday . The stock traded as low as $19.12 and last traded at $20.25. Approximately 55,916,356 shares were traded during mid-day trading, an increase of 21% from the average daily volume of 46,398,590 shares. The stock had previously closed at $20.57.

Analyst Ratings Changes

MARA has been the subject of several recent analyst reports. Compass Point initiated coverage on Marathon Digital in a report on Monday, September 15th. They issued a "neutral" rating and a $18.00 price target for the company. Piper Sandler increased their target price on Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. BTIG Research restated a "buy" rating and issued a $27.00 price target on shares of Marathon Digital in a research report on Friday, September 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Marathon Digital in a research note on Saturday, September 27th. Finally, Macquarie increased their target price on shares of Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $23.40.

Marathon Digital Trading Down 1.6%

The business has a 50-day moving average price of $16.49 and a 200-day moving average price of $15.54. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $7.50 billion, a P/E ratio of 18.24 and a beta of 6.33.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, topping the consensus estimate of ($0.29) by $2.13. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The firm had revenue of $238.50 million for the quarter, compared to analysts' expectations of $212.25 million. During the same period in the prior year, the firm earned ($0.72) earnings per share. The company's quarterly revenue was up 64.0% compared to the same quarter last year. Analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $17.38, for a total value of $478,036.90. Following the completion of the sale, the chief executive officer owned 3,755,789 shares of the company's stock, valued at approximately $65,275,612.82. This represents a 0.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $16.24, for a total transaction of $564,047.68. Following the transaction, the chief financial officer owned 318,428 shares in the company, valued at $5,171,270.72. This represents a 9.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 203,598 shares of company stock worth $3,466,128. Corporate insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Marathon Digital

A number of large investors have recently added to or reduced their stakes in MARA. Fifth Third Bancorp grew its holdings in shares of Marathon Digital by 59.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock worth $29,000 after purchasing an additional 683 shares in the last quarter. Estabrook Capital Management bought a new position in Marathon Digital in the 2nd quarter valued at about $31,000. IFP Advisors Inc lifted its holdings in shares of Marathon Digital by 375.4% during the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock worth $40,000 after acquiring an additional 2,001 shares during the period. CX Institutional acquired a new stake in shares of Marathon Digital during the 1st quarter worth approximately $68,000. Finally, Smartleaf Asset Management LLC increased its stake in Marathon Digital by 303.6% in the second quarter. Smartleaf Asset Management LLC now owns 5,013 shares of the business services provider's stock valued at $75,000 after acquiring an additional 3,771 shares during the last quarter. Institutional investors and hedge funds 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.

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