Marathon Digital (NASDAQ:MARA) Shares Down 4.2% - Should You Sell?

Key Points

• Marathon Digital shares fell 4.2% to $11.32 in mid-day trading, with volume below its average. The company has a $4.32 billion market capitalization and highly volatile trading, reflected by a beta of 5.36.
• Analyst sentiment remains broadly positive: eight analysts rate the stock Buy, two Hold and two Sell, producing a “Moderate Buy” consensus and an average price target of $18.50.
• Insiders sold 109,260 shares worth approximately $1.45 million over the past quarter under pre-arranged trading plans, while institutional investors own 44.53% of the company and several major funds increased their holdings.

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) traded down 4.2% during mid-day trading on Friday . The stock traded as low as $11.07 and last traded at $11.32. Approximately 38,570,569 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 46,119,250 shares. The stock had previously closed at $11.82.

Analyst Ratings Changes

Several brokerages recently commented on MARA. Rosenblatt Securities raised their price objective on Marathon Digital from $11.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Weiss Ratings cut Marathon Digital from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, May 12th. Piper Sandler lowered their price target on Marathon Digital from $16.00 to $13.00 and set an "overweight" rating for the company in a report on Friday, July 17th. BTIG Research reaffirmed a "buy" rating and set a $27.00 price target on shares of Marathon Digital in a research report on Monday, June 1st. Finally, Citizens Jmp assumed coverage on Marathon Digital in a report on Wednesday, June 24th. They set a "market outperform" rating and a $24.00 price objective on the stock. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Marathon Digital has an average rating of "Moderate Buy" and an average price target of $18.50.

Marathon Digital Stock Performance

The firm has a market cap of $4.32 billion, a price-to-earnings ratio of -1.98 and a beta of 5.36. The stock has a 50-day moving average of $13.17 and a 200-day moving average of $11.02. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.84 and a current ratio of 1.84.

Insider Buying and Selling at Marathon Digital

In other news, Director Douglas K. Mellinger sold 7,000 shares of Marathon Digital stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.00, for a total value of $112,000.00. Following the sale, the director directly owned 231,618 shares in the company, valued at $3,705,888. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total transaction of $391,946.25. Following the completion of the sale, the chief executive officer directly owned 4,562,009 shares in the company, valued at approximately $65,008,628.25. This represents a 0.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 109,260 shares of company stock valued at $1,452,756 over the last quarter. Insiders own 0.97% of the company's stock.

Hedge Funds Weigh In On Marathon Digital

Several hedge funds have recently modified their holdings of MARA. UBS Group AG raised its holdings in Marathon Digital by 104.1% during the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider's stock worth $220,922,000 after acquiring an additional 6,172,110 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Marathon Digital during the 3rd quarter worth approximately $93,066,000. Norges Bank bought a new stake in shares of Marathon Digital during the 4th quarter worth approximately $39,492,000. Van ECK Associates Corp raised its stake in shares of Marathon Digital by 125.4% during the 4th quarter. Van ECK Associates Corp now owns 2,727,069 shares of the business services provider's stock worth $24,489,000 after purchasing an additional 1,516,937 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Marathon Digital by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider's stock valued at $419,422,000 after buying an additional 1,394,559 shares during the last quarter. 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.

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