Marathon Digital (NASDAQ:MARA) Shares Down 5.2% - Here's Why

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price fell 5.2% on Monday . The stock traded as low as $16.39 and last traded at $16.73. 19,496,945 shares were traded during trading, a decline of 57% from the average session volume of 45,088,446 shares. The stock had previously closed at $17.66.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MARA. Compass Point reissued a "sell" rating and set a $9.50 price objective (down previously from $25.00) on shares of Marathon Digital in a report on Tuesday, May 6th. Piper Sandler cut their target price on Marathon Digital from $30.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Rosenblatt Securities raised their target price on Marathon Digital from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. raised their target price on Marathon Digital from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, June 13th. Finally, HC Wainwright restated a "buy" rating and set a $28.00 target price on shares of Marathon Digital in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $20.94.

Marathon Digital Trading Down 5.2%

The company has a 50-day simple moving average of $15.29 and a 200-day simple moving average of $15.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market cap of $5.89 billion, a P/E ratio of -11.55 and a beta of 6.53.

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

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, Director Douglas K. Mellinger sold 3,000 shares of Marathon Digital stock in a transaction on Friday, May 9th. The stock was sold at an average price of $16.00, for a total value of $48,000.00. Following the completion of the transaction, the director owned 176,859 shares in the company, valued at approximately $2,829,744. The trade was a 1.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 34,733 shares of Marathon Digital stock in a transaction 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 sale, the chief financial officer directly owned 1,413,298 shares of the company's stock, valued at $22,400,773.30. This trade represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 198,853 shares of company stock worth $3,054,629. 0.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marathon Digital

Hedge funds and other institutional investors have recently made changes to their positions in the company. Park Square Financial Group LLC acquired a new stake in shares of Marathon Digital in the 4th quarter valued at $27,000. Sterling Capital Management LLC grew its stake 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 worth $31,000 after purchasing an additional 1,426 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of Marathon Digital during the fourth quarter worth $50,000. CIBC Private Wealth Group LLC grew its stake in shares of Marathon Digital by 211.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,500 shares of the business services provider's stock worth $64,000 after purchasing an additional 2,375 shares during the period. Finally, US Bancorp DE grew its stake in shares of Marathon Digital by 73.3% during the fourth quarter. US Bancorp DE now owns 3,559 shares of the business services provider's stock worth $60,000 after purchasing an additional 1,505 shares during the period. 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.