Marathon Digital (NASDAQ:MARA) Stock Price Down 1.9% - Should You Sell?

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) dropped 1.9% during mid-day trading on Tuesday . The stock traded as low as $18.58 and last traded at $18.85. Approximately 15,086,869 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 45,307,825 shares. The stock had previously closed at $19.21.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Rosenblatt Securities boosted their price objective on Marathon Digital from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. JPMorgan Chase & Co. boosted their price objective on Marathon Digital from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, June 13th. Barclays boosted their price objective on Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Piper Sandler reduced their price objective 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. Finally, HC Wainwright reissued a "buy" rating and set a $28.00 price objective on shares of Marathon Digital in a research note on Thursday, April 24th. One 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $20.94.

Marathon Digital Stock Performance

The business has a fifty day simple moving average of $16.00 and a two-hundred day simple moving average of $15.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market cap of $7.03 billion, a PE ratio of -13.77 and a beta of 6.53.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued 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 business had revenue of $213.88 million for the quarter, compared to analyst estimates of $234.19 million. Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The business's revenue for the quarter was up 29.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share. Research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Transactions at Marathon Digital

In other news, Director Douglas K. Mellinger sold 3,000 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $16.00, for a total transaction of $48,000.00. Following the transaction, the director directly owned 176,859 shares of the company's stock, valued at approximately $2,829,744. This represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 34,733 shares of the company's stock in a transaction 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 in the company, valued at approximately $22,400,773.30. The trade was a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 199,853 shares of company stock valued at $3,072,049. Corporate insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Marathon Digital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MARA. Norges Bank purchased a new stake in shares of Marathon Digital during the 4th quarter worth about $46,413,000. Vanguard Group Inc. boosted its stake in shares of Marathon Digital by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider's stock worth $650,390,000 after acquiring an additional 2,706,271 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Marathon Digital by 55.7% during the 1st quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider's stock worth $72,334,000 after acquiring an additional 2,250,082 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Marathon Digital during the 1st quarter worth about $14,810,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Marathon Digital by 192.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,897,200 shares of the business services provider's stock worth $31,817,000 after acquiring an additional 1,248,292 shares in the last quarter. 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.