Marathon Digital (NASDAQ:MARA) Shares Down 2.8% - What's Next?

Key Points

• Marathon Digital's stock price fell by 2.8% on Friday, trading at $15.64, significantly below its previous close of $16.08, with trading volume decreasing by 57% from the average.
• Analysts have raised their price targets for Marathon Digital, with estimates ranging from $20.00 to $39.00, leading to an average rating of "Moderate Buy" and a target of $24.22.
• Marathon Digital reported a quarterly loss of ($0.40) per share, missing estimates, while the company's revenue increased by 29.5% year-over-year, indicating growth despite challenges.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price traded down 2.8% during mid-day trading on Friday . The stock traded as low as $15.01 and last traded at $15.64. 18,198,495 shares were traded during mid-day trading, a decline of 57% from the average session volume of 42,629,363 shares. The stock had previously closed at $16.08.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Macquarie raised 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. JPMorgan Chase & Co. upgraded shares of Marathon Digital from a "neutral" rating to an "overweight" rating and raised their target price for the company from $19.00 to $22.00 in a research note on Monday. HC Wainwright restated a "buy" rating and set a $28.00 price objective on shares of Marathon Digital in a research report on Thursday, April 24th. Rosenblatt Securities restated a "buy" rating and set a $20.00 price objective on shares of Marathon Digital in a research report on Wednesday. Finally, Cantor Fitzgerald raised their price objective on shares of Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $24.22.

Marathon Digital Price Performance

The business's 50 day moving average is $16.46 and its 200-day moving average is $15.36. The firm has a market capitalization of $5.52 billion, a P/E ratio of 14.16 and a beta of 6.53. The company has a quick ratio of 0.79, a current ratio of 0.54 and a debt-to-equity ratio of 0.47.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) 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 the consensus estimate of $234.19 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The business's revenue was up 29.5% compared to the same quarter last year. During the same period last year, the business earned $1.26 earnings per share. As a group, sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling at Marathon Digital

In other news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $19.05, for a total transaction of $661,644.60. Following the transaction, the chief financial officer owned 324,572 shares in the company, valued at approximately $6,183,096.60. The trade was a 9.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $19.52, for a total transaction of $536,897.60. Following the transaction, the chief executive officer owned 3,946,504 shares in the company, valued at approximately $77,035,758.08. This trade represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 262,090 shares of company stock worth $4,270,591 over the last quarter. Corporate insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On Marathon Digital

Several hedge funds and other institutional investors have recently bought and sold shares of MARA. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Marathon Digital by 22.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,664 shares of the business services provider's stock valued at $179,000 after buying an additional 1,979 shares during the period. Norges Bank acquired a new position in Marathon Digital in the fourth quarter valued at $46,413,000. Pictet Asset Management Holding SA lifted its holdings in Marathon Digital by 24.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 46,327 shares of the business services provider's stock valued at $777,000 after buying an additional 9,131 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Marathon Digital in the fourth quarter valued at $50,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in Marathon Digital by 211.1% in 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 buying an additional 2,375 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.