Marathon Digital (NASDAQ:MARA) Shares Gap Down - Time to Sell?

Key Points

• Marathon Digital (NASDAQ:MARA) shares opened at $15.26 after closing at $15.67, with a trading volume of over 3.8 million shares.
• Wall Street analysts have generally upgraded their price targets for Marathon Digital, with the consensus price target now at $24.22 and a rating of "Moderate Buy."
• Marathon Digital reported earnings of $1.84 EPS, significantly exceeding analyst estimates, and a year-over-year revenue increase of 64% for the quarter.

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $15.67, but opened at $15.26. Marathon Digital shares last traded at $15.42, with a volume of 3,800,630 shares traded.

Wall Street Analysts Forecast Growth

MARA has been the topic of a number of analyst reports. Macquarie upped their price target on Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Barclays upped their price target on Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Compass Point upgraded Marathon Digital from a "sell" rating to a "neutral" rating and upped their price target for the company from $9.50 to $18.00 in a research report on Friday, July 25th. JPMorgan Chase & Co. upgraded Marathon Digital from a "neutral" rating to an "overweight" rating and upped their price target for the company from $19.00 to $22.00 in a research report on Monday, July 28th. Finally, Piper Sandler upped their price target on Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.22.

Marathon Digital Stock Performance

The firm has a fifty day moving average of $16.60 and a 200-day moving average of $15.06. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. The firm has a market cap of $5.97 billion, a P/E ratio of 14.49 and a beta of 6.24.

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

Insiders Place Their Bets

In related news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $19.05, for a total transaction of $661,644.60. Following the completion of the sale, the chief financial officer directly owned 324,572 shares of the company's stock, valued at $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 available at this link. 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 value of $536,897.60. Following the sale, the chief executive officer directly owned 3,946,504 shares of the company's stock, valued at approximately $77,035,758.08. This trade represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,475 shares of company stock valued at $2,219,517. 0.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MARA. Norges Bank acquired a new position in Marathon Digital in the second quarter valued at about $59,255,000. American Century Companies Inc. grew its holdings in shares of Marathon Digital by 55.7% during the first quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider's stock worth $72,334,000 after buying an additional 2,250,082 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in shares of Marathon Digital during the first quarter worth about $14,810,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Marathon Digital by 192.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,897,200 shares of the business services provider's stock worth $31,817,000 after buying an additional 1,248,292 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings 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 worth $457,832,000 after buying an additional 1,028,512 shares in the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

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.

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