Marathon Digital (NASDAQ:MARA) Stock Price Down 4.3% - Time to Sell?

Key Points

• Marathon Digital's stock fell 4.3%, trading as low as $15.39, with unusual volume at 9.8 million shares compared to its average of 41.9 million.
• Analysts maintain a Moderate Buy average rating for the stock, with a target price of $24.22, despite a recent drop in stock price.
• Marathon reported quarterly earnings of $1.84 per share, significantly beating estimates, with a revenue increase of 64% year-over-year, totaling $238.5 million.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) fell 4.3% during trading on Tuesday . The company traded as low as $15.48 and last traded at $15.39. 9,832,719 shares traded hands during trading, a decline of 77% from the average session volume of 41,939,660 shares. The stock had previously closed at $16.09.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. HC Wainwright restated a "buy" rating and issued a $28.00 price target on shares of Marathon Digital in a research report on Thursday, April 24th. Cantor Fitzgerald increased their price objective on shares of Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a report on Monday, July 28th. JPMorgan Chase & Co. upgraded shares of Marathon Digital from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $19.00 to $22.00 in a report on Monday, July 28th. Compass Point upgraded shares of Marathon Digital from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $9.50 to $18.00 in a research note on Friday, July 25th. Finally, Macquarie lifted their price target on shares of Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $24.22.

Marathon Digital Price Performance

The firm has a fifty day moving average of $16.60 and a 200 day moving average of $15.05. The company has a market capitalization of $5.60 billion, a P/E ratio of 13.63 and a beta of 6.24. 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 announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $2.13. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The company had revenue of $238.50 million during the quarter, compared to the consensus estimate of $212.25 million. During the same period in the previous year, the company posted ($0.72) EPS. The firm's revenue was up 64.0% on a year-over-year basis. On average, equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Transactions at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,732 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $19.05, for a total value 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. This trade represents a 9.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $19.52, for a total value of $536,897.60. Following the completion of the sale, the chief executive officer owned 3,946,504 shares in the company, valued at $77,035,758.08. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,475 shares of company stock worth $2,219,517. 0.80% of the stock is owned by corporate insiders.

Institutional Trading of Marathon Digital

A number of large investors have recently made changes to their positions in MARA. Park Square Financial Group LLC purchased a new stake in Marathon Digital during the 4th quarter valued at approximately $27,000. Sterling Capital Management LLC grew its position in 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 acquiring an additional 1,426 shares during the period. Fifth Third Bancorp lifted its stake 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 worth $29,000 after purchasing an additional 683 shares in the last quarter. Estabrook Capital Management acquired a new position in shares of Marathon Digital in the second quarter worth about $31,000. Finally, IFP Advisors Inc raised its stake in Marathon Digital by 375.4% during the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock valued at $40,000 after buying an additional 2,001 shares in the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

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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