Marathon Digital (NASDAQ:MARA) Trading Down 11.2% - Here's What Happened

Key Points

• Marathon Digital Holdings shares fell by 11.2% on Thursday, closing at $20.29, after trading as low as $20.55, with 44 million shares changing hands.
• Analysts have mixed views on the stock, with target prices ranging from $18.00 to $30.00, while the consensus rating remains a "Moderate Buy".
• In recent insider transactions, **Vicki Mealer-Burke** and **Salman Hassan Khan** sold significant amounts of stock, representing decreases of over 20% and 9% in their positions, respectively.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price was down 11.2% during trading on Thursday . The stock traded as low as $20.55 and last traded at $20.29. Approximately 44,035,947 shares traded hands during trading, a decline of 6% from the average daily volume of 46,753,496 shares. The stock had previously closed at $22.84.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MARA shares. Compass Point initiated coverage on shares of Marathon Digital in a report on Monday, September 15th. They set a "neutral" rating and a $18.00 price target for the company. Cantor Fitzgerald raised their target price on Marathon Digital from $28.00 to $30.00 and gave the stock an "overweight" rating in a research note on Monday, October 6th. BTIG Research reiterated a "buy" rating and issued a $27.00 price objective on shares of Marathon Digital in a research report on Friday, September 5th. Piper Sandler boosted their target price on Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Marathon Digital in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $23.90.

Marathon Digital Stock Performance

The company has a market capitalization of $7.51 billion, a PE ratio of 18.26 and a beta of 6.33. The business's fifty day moving average is $17.14 and its two-hundred day moving average is $15.85. 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 posted its earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $2.13. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The business had revenue of $238.50 million for the quarter, compared to analysts' expectations of $212.25 million. During the same quarter in the prior year, the business earned ($0.72) EPS. The business's revenue for the quarter was up 64.0% compared to the same quarter last year. Equities research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Transactions at Marathon Digital

In other Marathon Digital news, Director Vicki Mealer-Burke sold 14,887 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $15.22, for a total value of $226,580.14. Following the completion of the sale, the director owned 58,103 shares in the company, valued at approximately $884,327.66. This represents a 20.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $16.24, for a total value of $564,047.68. Following the transaction, the chief financial officer owned 318,428 shares of the company's stock, valued at $5,171,270.72. This represents a 9.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 142,361 shares of company stock valued at $2,288,295 over the last three months. Corporate insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Marathon Digital

Several hedge funds have recently made changes to their positions in MARA. Fifth Third Bancorp increased its holdings in shares of Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock valued at $29,000 after acquiring an additional 683 shares during the period. Estabrook Capital Management purchased a new stake in shares of Marathon Digital during the second quarter valued at about $31,000. IFP Advisors Inc boosted its holdings in shares of Marathon Digital by 375.4% in the 2nd 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. Osaic Holdings Inc. grew its position in shares of Marathon Digital by 38.6% in the 2nd quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider's stock worth $76,000 after buying an additional 1,340 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Marathon Digital by 303.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 5,013 shares of the business services provider's stock worth $75,000 after acquiring an additional 3,771 shares in the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

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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