Marathon Digital (NASDAQ:MARA) Trading Down 1.6% - What's Next?

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on MARA shares. Compass Point reaffirmed a "sell" rating and issued a $9.50 price target (down from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. HC Wainwright restated a "buy" rating and issued a $28.00 price objective on shares of Marathon Digital in a report on Thursday, April 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Marathon Digital in a research report on Thursday, February 27th. JPMorgan Chase & Co. increased their target price on Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, June 13th. Finally, Rosenblatt Securities lifted their target price on Marathon Digital from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $20.94.

Marathon Digital Price Performance

The stock has a market cap of $4.97 billion, a PE ratio of -9.76 and a beta of 6.62. The firm's fifty day moving average price is $14.69 and its 200 day moving average price is $15.90. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.62.

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 positive return on equity of 6.33% and a negative net margin of 46.68%. The firm had revenue of $213.88 million for the quarter, compared to analysts' expectations of $234.19 million. During the same period last year, the company earned $1.26 earnings per share. The firm's revenue was up 29.5% on a year-over-year basis. As a group, equities analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Activity

In other news, CFO Salman Hassan Khan sold 16,700 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $15.68, for a total transaction of $261,856.00. Following the completion of the sale, the chief financial officer now directly owns 1,598,943 shares of the company's stock, valued at approximately $25,071,426.24. The trade was a 1.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas K. Mellinger sold 3,000 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $16.00, for a total transaction of $48,000.00. Following the completion of the sale, the director now directly owns 176,859 shares of the company's stock, valued at approximately $2,829,744. This trade represents a 1.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,853 shares of company stock valued at $3,054,629. 0.80% of the stock is currently owned by insiders.

Institutional Trading of Marathon Digital

Several institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its position 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 valued at $56,000 after purchasing an additional 2,693 shares in the last quarter. Rhumbline Advisers increased its position in Marathon Digital by 6.6% during the 4th quarter. Rhumbline Advisers now owns 834,057 shares of the business services provider's stock valued at $13,987,000 after purchasing an additional 51,643 shares during the period. State of New Jersey Common Pension Fund D raised its holdings in shares of Marathon Digital by 4.6% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 111,819 shares of the business services provider's stock valued at $1,875,000 after purchasing an additional 4,945 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Marathon Digital by 72.9% during the fourth quarter. Global Retirement Partners LLC now owns 32,043 shares of the business services provider's stock valued at $537,000 after purchasing an additional 13,512 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in Marathon Digital by 23.8% during the fourth quarter. Private Advisor Group LLC now owns 280,086 shares of the business services provider's stock valued at $4,697,000 after buying an additional 53,887 shares during the period. Institutional investors own 44.53% of the company's stock.

About Marathon Digital

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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