Marathon Digital (NASDAQ:MARA) Shares Down 4.6% - Should You Sell?

Key Points

• Marathon Digital's stock (NASDAQ:MARA) is down by 4.6%, closing at $19.15 after trading as low as $18.39.
• Analysts have set a consensus rating of "Moderate Buy" for Marathon Digital, with an average price target of $23.90.
• Recent insider trading includes sales by Director Vicki Mealer-Burke and CFO Salman Hassan Khan, resulting in a total of 204,598 shares sold over the last ninety days.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) traded down 4.6% on Wednesday . The stock traded as low as $18.39 and last traded at $19.15. 41,128,632 shares changed hands during trading, a decline of 12% from the average session volume of 46,829,801 shares. The stock had previously closed at $20.07.

Analysts Set New Price Targets

MARA has been the topic of a number of research reports. Compass Point initiated coverage on Marathon Digital in a research note on Monday, September 15th. They set a "neutral" rating and a $18.00 price target on the stock. Macquarie upped their price objective on shares of Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Weiss Ratings restated a "hold (c)" rating on shares of Marathon Digital in a report on Wednesday, October 8th. Cantor Fitzgerald upped their target price on shares of Marathon Digital from $28.00 to $30.00 and gave the stock an "overweight" rating in a report on Monday, October 6th. Finally, Rosenblatt Securities upped their target price on shares of Marathon Digital from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, October 16th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Marathon Digital currently has a consensus rating of "Moderate Buy" and an average price target of $23.90.

Marathon Digital Trading Down 4.6%

The firm has a fifty day moving average of $17.50 and a two-hundred day moving average of $16.11. The company has a market cap of $7.09 billion, a PE ratio of 17.25 and a beta of 6.33. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $212.25 million. During the same quarter last year, the company earned ($0.72) earnings per share. The company's revenue was up 64.0% on a year-over-year basis. As a group, sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Buying and Selling

In related news, Director Vicki Mealer-Burke sold 14,887 shares of the company's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $15.22, for a total value of $226,580.14. Following the completion of the transaction, the director directly owned 58,103 shares in the company, valued at approximately $884,327.66. The trade was a 20.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the company's stock in a transaction dated Monday, September 15th. The stock was 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. The trade was a 9.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 204,598 shares of company stock worth $3,616,374 over the last ninety days. 0.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marathon Digital

Institutional investors have recently made changes to their positions in the business. Marex Group plc purchased a new stake in Marathon Digital during the second quarter valued at about $84,301,000. Norges Bank purchased a new stake in Marathon Digital during the 2nd quarter valued at about $59,255,000. American Century Companies Inc. boosted its holdings in Marathon Digital by 55.7% during the 1st quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider's stock valued at $72,334,000 after acquiring an additional 2,250,082 shares during the period. Westfield Capital Management Co. LP purchased a new stake in shares of Marathon Digital during the first quarter valued at approximately $14,810,000. Finally, Vanguard Group Inc. boosted its stake in shares of Marathon Digital by 2.7% during the first quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider's stock valued at $457,832,000 after purchasing an additional 1,028,512 shares during the period. Hedge funds and other institutional investors own 44.53% of the company's stock.

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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