Marathon Digital (NASDAQ:MARA) Shares Down 3.5% - What's Next?

Key Points

• Marathon Digital's shares have decreased by 3.5%, trading at approximately $17.71, which is a drop from the previous closing price of $18.35.
• Analysts have a consensus rating of "Moderate Buy" with a target price of $24.50, following various upgrades and downgrades by research firms.
• The company reported revenues of $238.5 million for the last quarter, significantly surpassing estimates, with earnings per share of $1.84 compared to expectations of a loss.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price traded down 3.5% on Tuesday . The stock traded as low as $17.63 and last traded at $17.71. 66,642,815 shares traded hands during mid-day trading, an increase of 48% from the average session volume of 45,179,918 shares. The stock had previously closed at $18.35.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MARA. Compass Point initiated coverage on Marathon Digital in a report on Monday, September 15th. They set a "neutral" rating and a $18.00 target price for the company. BTIG Research restated a "buy" rating and set a $27.00 price objective on shares of Marathon Digital in a research note on Friday, September 5th. JPMorgan Chase & Co. upgraded Marathon Digital from a "neutral" rating to an "overweight" rating and upped their target price for the company from $19.00 to $22.00 in a research report on Monday, July 28th. Macquarie increased their target price on Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, Piper Sandler boosted their price target on Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Marathon Digital presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.50.

Marathon Digital Trading Down 3.5%

The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 15.95 and a beta of 6.36. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. The firm's 50-day simple moving average is $16.58 and its 200 day simple moving average is $15.16.

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

Insider Activity at Marathon Digital

In related news, Director Vicki Mealer-Burke sold 14,887 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $15.22, for a total value of $226,580.14. Following the sale, the director directly owned 58,103 shares of the company's stock, valued at $884,327.66. This trade represents a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $16.24, for a total value of $564,047.68. Following the completion of the transaction, the chief financial officer owned 318,428 shares of the company's stock, 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. Insiders have sold 204,598 shares of company stock valued at $3,483,548 over the last ninety days. 0.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marathon Digital

A number of institutional investors have recently added to or reduced their stakes in MARA. Park Square Financial Group LLC acquired a new position in shares of Marathon Digital during the fourth quarter worth $27,000. Fifth Third Bancorp lifted its holdings in 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 buying an additional 683 shares during the period. Estabrook Capital Management bought a new stake in shares of Marathon Digital in the 2nd quarter valued at about $31,000. IFP Advisors Inc increased its stake in shares of Marathon Digital by 375.4% in the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock valued at $40,000 after buying an additional 2,001 shares during the period. Finally, Osaic Holdings Inc. increased its stake in shares of Marathon Digital by 38.6% in the second quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider's stock valued at $76,000 after buying an additional 1,340 shares during the period. 44.53% of the stock is owned by institutional investors.

Marathon Digital Company Profile

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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