Marathon Digital (NASDAQ:MARA) Stock Price Down 4.4% - Here's What Happened

Key Points

• Shares fell 4.4% to about $11.46 on Friday on heavier-than-average volume (~50.9M shares) while the company has a market cap of roughly $4.36 billion.
• Marathon agreed to buy Long Ridge Energy & Power for ≈$1.5B, adding a 505 MW gas plant and line-of-sight to >1 GW of capacity to accelerate a pivot into energy and AI infrastructure, but the deal increases leverage and faces financing and regulatory risks with an expected close in Q3 2026.
• Fundamentals remain weak—Marathon reported a large EPS miss (‑$4.52 vs. est. ‑$0.23), negative margins and falling revenue; analysts are mixed with a consensus "Hold" (average target $18.22) while Rosenblatt raised its target to $15.

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) fell 4.4% during trading on Friday . The stock traded as low as $11.38 and last traded at $11.46. 50,855,954 shares changed hands during trading, an increase of 8% from the average session volume of 47,092,434 shares. The stock had previously closed at $11.99.

Trending Headlines about Marathon Digital

Here are the key news stories impacting Marathon Digital this week:

• Positive Sentiment: MARA agreed to buy Long Ridge Energy & Power, adding a 505 MW gas plant and a 1,600‑acre Ohio campus that creates line‑of‑sight to >1 GW of total capacity and expands MARA’s digital infrastructure and AI-ready power footprint. This materially accelerates the company’s pivot beyond pure bitcoin mining into energy and AI infrastructure. MARA acquires Long Ridge Energy platform for $1.5 billion
• Positive Sentiment: Sell‑side momentum: Rosenblatt raised its price target from $11 to $15 and initiated/maintained a Buy stance, signaling analyst conviction in upside from the strategic deal and re‑rating potential. Rosenblatt raises MARA target to $15
• Neutral Sentiment: Company provided more detail on the M&A in a recent call/transcript; investors can use the transcript to assess management’s integration plan, expected capex and timing. MARA M&A call transcript
• Neutral Sentiment: Media coverage frames the deal as part of a broader shift into AI infrastructure and power markets — a thematic positive long term but dependent on execution and AI demand. Major energy firm moves into AI infrastructure
• Negative Sentiment: Price and financing risk: the deal values Long Ridge at ≈$1.5–$1.52B including debt, will increase MARA’s leverage and requires regulatory approvals with expected close in Q3 2026 — raises near‑term execution and financing risk. FTAI announces sale to MARA
• Negative Sentiment: Fundamentals remain a concern: last reported quarter showed a large EPS miss, negative margins and ongoing volatility tied to bitcoin economics; those legacy weaknesses temper enthusiasm until integration and profitability paths are clearer. No link

Analyst Ratings Changes

Several brokerages have commented on MARA. Piper Sandler dropped their target price on shares of Marathon Digital from $26.00 to $16.00 and set an "overweight" rating on the stock in a report on Wednesday, January 14th. HC Wainwright restated a "neutral" rating on shares of Marathon Digital in a report on Friday, February 27th. Morgan Stanley began coverage on shares of Marathon Digital in a report on Monday, February 9th. They set an "underweight" rating and a $8.00 target price on the stock. Cantor Fitzgerald dropped their target price on shares of Marathon Digital from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. Finally, Rosenblatt Securities raised their price target on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Marathon Digital currently has a consensus rating of "Hold" and an average target price of $18.22.

Marathon Digital Stock Down 4.4%

The company has a market capitalization of $4.36 billion, a P/E ratio of -2.89 and a beta of 5.29. The firm's 50 day moving average price is $9.41 and its two-hundred day moving average price is $11.24. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.92.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($4.29). The business had revenue of $202.31 million for the quarter, compared to the consensus estimate of $250.74 million. Marathon Digital had a negative return on equity of 19.01% and a negative net margin of 144.58%.Marathon Digital's revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 earnings per share. Equities research analysts forecast that Marathon Digital Holdings, Inc. will post -0.79 EPS for the current year.

Insider Transactions at Marathon Digital

In related news, CFO Salman Hassan Khan sold 16,000 shares of the firm's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $11.68, for a total value of $186,880.00. Following the completion of the transaction, the chief financial officer directly owned 441,066 shares of the company's stock, valued at approximately $5,151,650.88. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 42,090 shares of the firm's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $12.00, for a total transaction of $505,080.00. Following the completion of the transaction, the general counsel directly owned 1,007,047 shares of the company's stock, valued at $12,084,564. This represents a 4.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 172,605 shares of company stock valued at $1,745,843 in the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marathon Digital

Several hedge funds and other institutional investors have recently made changes to their positions in MARA. Vanguard Group Inc. lifted its holdings in shares of Marathon Digital by 9.8% during the third quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider's stock worth $827,392,000 after buying an additional 4,049,979 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in shares of Marathon Digital during the third quarter worth $5,438,000. WINTON GROUP Ltd acquired a new stake in shares of Marathon Digital during the third quarter worth $4,643,000. Farallon Capital Management LLC lifted its holdings in shares of Marathon Digital by 338.3% during the third quarter. Farallon Capital Management LLC now owns 3,660,000 shares of the business services provider's stock worth $66,832,000 after buying an additional 2,825,000 shares in the last quarter. Finally, Stevens Capital Management LP lifted its holdings in shares of Marathon Digital by 446.6% during the third quarter. Stevens Capital Management LP now owns 319,549 shares of the business services provider's stock worth $5,835,000 after buying an additional 261,085 shares in the last quarter. 44.53% of the stock is owned by institutional investors.

Marathon Digital Company Profile

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.

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