Marathon Digital (NASDAQ:MARA) Stock Price Down 5.7% - What's Next?

Key Points

• Marathon Digital's stock price decreased by 5.7%, closing at $15.37 with a trading volume of 21,480,793 shares—a significant decline from its average volume.
• Analysts have a consensus rating of "Moderate Buy" for the stock, with a target price averaging $24.22, and recent upgrades from various firms projecting prices as high as $39.00.
• The company reported a quarterly earnings per share of $1.84, which exceeded analysts’ expectations, with revenues increasing by 64% compared to the same quarter last year.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price fell 5.7% during mid-day trading on Monday . The company traded as low as $15.02 and last traded at $15.37. 21,480,793 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 42,255,262 shares. The stock had previously closed at $16.29.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MARA. Macquarie lifted their target price on Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upgraded Marathon Digital from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $19.00 to $22.00 in a research report on Monday, July 28th. Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 target price on shares of Marathon Digital in a research report on Wednesday, July 30th. Piper Sandler lifted their target price on Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Finally, Cantor Fitzgerald boosted their price target on Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $24.22.

Marathon Digital Stock Performance

The company has a market capitalization of $5.75 billion, a P/E ratio of 14.00 and a beta of 6.24. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. The company has a fifty day moving average price of $16.57 and a two-hundred day moving average price of $15.00.

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

Insider Buying and Selling

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,733 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $15.85, for a total value of $550,518.05. Following the transaction, the chief financial officer directly owned 1,413,298 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $15.28, for a total value of $420,276.40. Following the completion of the transaction, the chief executive officer directly owned 3,810,799 shares in the company, valued at approximately $58,229,008.72. This trade represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,712 shares of company stock worth $3,186,128. 0.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Marathon Digital

Several institutional investors have recently added to or reduced their stakes in MARA. Park Square Financial Group LLC acquired a new position in Marathon Digital in the fourth quarter valued at approximately $27,000. Fifth Third Bancorp lifted its stake in Marathon Digital by 59.9% in 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 period. Estabrook Capital Management acquired a new position in Marathon Digital in the second quarter valued at approximately $31,000. IFP Advisors Inc lifted its stake 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 buying an additional 2,001 shares during the period. Finally, CX Institutional acquired a new position in Marathon Digital in the first quarter valued at approximately $68,000. 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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