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

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $19.88, but opened at $18.72. Marathon Digital shares last traded at $17.88, with a volume of 26,061,034 shares traded.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MARA. Piper Sandler boosted their target price on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a report on Monday. JPMorgan Chase & Co. lifted their price objective on shares of Marathon Digital from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, June 13th. HC Wainwright reaffirmed a "buy" rating and set a $28.00 price objective on shares of Marathon Digital in a research report on Thursday, April 24th. Barclays lifted their price objective on shares of Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Finally, Compass Point reaffirmed a "sell" rating and set a $9.50 price objective (down from $25.00) on shares of Marathon Digital in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $21.28.

Marathon Digital Stock Performance

The stock's 50-day moving average price is $16.36 and its 200-day moving average price is $15.44. The company has a market cap of $6.15 billion, a P/E ratio of -12.04 and a beta of 6.53. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.79 and a quick ratio of 0.79.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.06). Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The firm had revenue of $213.88 million for the quarter, compared to the consensus estimate of $234.19 million. During the same period in the prior year, the company earned $1.26 EPS. The company's revenue for the quarter was up 29.5% compared to the same quarter last year. Equities analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Buying and Selling

In other Marathon Digital news, Director Douglas K. Mellinger sold 3,000 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $16.00, for a total transaction of $48,000.00. Following the completion of the transaction, the director owned 176,859 shares of the company's stock, valued at approximately $2,829,744. The trade was a 1.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $19.52, for a total value of $536,897.60. Following the transaction, the chief executive officer directly owned 3,946,504 shares of the company's stock, valued at approximately $77,035,758.08. The trade was a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 262,090 shares of company stock valued at $4,270,591 over the last quarter. 0.80% of the stock is owned by company insiders.

Institutional Trading of Marathon Digital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its position in Marathon Digital by 307.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider's stock valued at $729,000 after purchasing an additional 47,826 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Marathon Digital by 1,521.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider's stock valued at $147,000 after purchasing an additional 12,032 shares during the period. Alliancebernstein L.P. increased its position in Marathon Digital by 1.0% during the 4th quarter. Alliancebernstein L.P. now owns 355,218 shares of the business services provider's stock valued at $5,957,000 after purchasing an additional 3,393 shares during the period. Corient Private Wealth LLC acquired a new stake in Marathon Digital during the 4th quarter valued at approximately $195,000. Finally, Wells Fargo & Company MN increased its position in Marathon Digital by 46.3% during the 4th quarter. Wells Fargo & Company MN now owns 239,195 shares of the business services provider's stock valued at $4,011,000 after purchasing an additional 75,668 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.