Marathon Digital (NASDAQ:MARA) Stock Price Down 3.7% - Time to Sell?

Key Points

• Marathon Digital's stock has decreased by 3.7% during mid-day trading, with a recent trading price of $15.27 after closing at $15.86.
• Several analysts have upgraded their ratings on Marathon Digital, with Piper Sandler raising the price target from $23.00 to $26.00 and JPMorgan Chase increasing it from $19.00 to $22.00.
• The company's quarterly earnings beat estimates significantly, reporting $1.84 earnings per share compared to a consensus estimate of ($0.29), with a year-over-year revenue increase of 64%.

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) dropped 3.7% during mid-day trading on Thursday . The stock traded as low as $15.05 and last traded at $15.27. Approximately 15,567,339 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 41,942,223 shares. The stock had previously closed at $15.86.

Analyst Upgrades and Downgrades

MARA has been the topic of several analyst reports. Piper Sandler upped their price objective on Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. raised Marathon Digital from a "neutral" rating to an "overweight" rating and increased their price target for the company from $19.00 to $22.00 in a report on Monday, July 28th. Compass Point raised Marathon Digital from a "sell" rating to a "neutral" rating and increased their price target for the company from $9.50 to $18.00 in a report on Friday, July 25th. Barclays increased their price target on Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, Cantor Fitzgerald increased their price target on Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Marathon Digital has a consensus rating of "Moderate Buy" and an average price target of $24.22.

Marathon Digital Stock Down 4.9%

The company's 50 day moving average price is $16.59 and its two-hundred day moving average price is $15.15. 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 stock has a market cap of $5.58 billion, a P/E ratio of 13.62 and a beta of 6.24.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $238.50 million during the quarter, compared to the consensus estimate of $212.25 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The company's revenue was up 64.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.72) earnings per share. As a group, research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Salman Hassan Khan sold 34,733 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $15.85, for a total value of $550,518.05. Following the completion of the transaction, the chief financial officer owned 1,413,298 shares of the company's stock, valued at $22,400,773.30. The trade was a 2.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $19.52, for a total transaction of $536,897.60. Following the completion of the transaction, the chief executive officer directly owned 3,946,504 shares of the company's stock, valued at $77,035,758.08. This trade represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 171,680 shares of company stock valued at $2,912,651 in the last three months. 0.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marathon Digital

A number of large investors have recently bought and sold shares of MARA. Park Square Financial Group LLC purchased a new position in Marathon Digital in the fourth quarter worth $27,000. Fifth Third Bancorp grew its holdings in shares of Marathon Digital by 59.9% during the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock valued at $29,000 after buying an additional 683 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of Marathon Digital by 358.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock valued at $31,000 after buying an additional 1,426 shares during the last quarter. Estabrook Capital Management purchased a new stake in shares of Marathon Digital during the second quarter valued at $31,000. Finally, IFP Advisors Inc boosted its holdings in 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 purchasing an additional 2,001 shares during the last quarter. 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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