Marathon Digital (NASDAQ:MARA) Trading Down 1.6% - Should You Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price fell 1.6% during trading on Monday . The stock traded as low as $13.67 and last traded at $14.09. 13,570,547 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 44,976,555 shares. The stock had previously closed at $14.32.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MARA. JPMorgan Chase & Co. upped their price target on Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, June 13th. HC Wainwright reaffirmed a "buy" rating and issued a $28.00 price target on shares of Marathon Digital in a research note on Thursday, April 24th. Piper Sandler decreased their price target on Marathon Digital from $30.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Compass Point reaffirmed a "sell" rating and issued a $9.50 price target (down previously from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. Finally, Barclays upped their price target on Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $20.94.

Marathon Digital Trading Up 1.9%

The company has a 50 day moving average of $14.87 and a 200-day moving average of $15.74. 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 $5.37 billion, a price-to-earnings ratio of -10.53 and a beta of 6.61.

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

Insider Buying and Selling at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $15.30, for a total value of $420,826.50. Following the transaction, the chief executive officer now owns 3,983,593 shares in the company, valued at approximately $60,948,972.90. This represents a 0.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Salman Hassan Khan sold 33,400 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $15.00, for a total value of $501,000.00. Following the completion of the transaction, the chief financial officer now owns 1,680,971 shares in the company, valued at approximately $25,214,565. The trade was a 1.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,853 shares of company stock valued at $3,054,629 in the last quarter. Corporate insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MARA. Blue Trust Inc. grew its stake in Marathon Digital by 415.6% during the 4th quarter. Blue Trust Inc. now owns 3,341 shares of the business services provider's stock worth $56,000 after buying an additional 2,693 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Marathon Digital by 4.4% during the 4th quarter. Handelsbanken Fonder AB now owns 73,800 shares of the business services provider's stock worth $1,238,000 after buying an additional 3,100 shares during the last quarter. IFP Advisors Inc grew its stake in Marathon Digital by 73.7% during the 4th quarter. IFP Advisors Inc now owns 4,496 shares of the business services provider's stock worth $76,000 after buying an additional 1,908 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Marathon Digital by 8.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,040,465 shares of the business services provider's stock worth $34,219,000 after buying an additional 150,367 shares during the last quarter. Finally, Amalgamated Bank grew its stake in Marathon Digital by 7.7% during the 4th quarter. Amalgamated Bank now owns 92,741 shares of the business services provider's stock worth $1,555,000 after buying an additional 6,628 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.

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.