Marathon Digital (NASDAQ:MARA) Trading Down 5.1% – Here’s Why

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares dropped 5.1% during mid-day trading on Thursday . The stock traded as low as $17.26 and last traded at $17.35. Approximately 12,315,824 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 53,570,203 shares. The stock had previously closed at $18.28.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MARA shares. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research report on Thursday, October 10th. Macquarie initiated coverage on shares of Marathon Digital in a research report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price objective for the company. Cantor Fitzgerald started coverage on Marathon Digital in a research report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Finally, B. Riley lifted their price objective on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.79.

Marathon Digital Stock Down 8.7 %

The firm has a market cap of $4.72 billion, a PE ratio of 7.79 and a beta of 5.50. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $16.59 and a two-hundred day moving average price of $18.37.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.49). The company had revenue of $145.14 million for the quarter, compared to analysts’ expectations of $157.86 million. Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. Marathon Digital’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.13) EPS. On average, equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.05 EPS for the current year.

Insider Buying and Selling

In related news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $481,337.50. Following the completion of the transaction, the chief executive officer now owns 4,250,804 shares in the company, valued at $74,389,070. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $481,337.50. Following the transaction, the chief executive officer now owns 4,250,804 shares of the company’s stock, valued at $74,389,070. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the sale, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at $67,169,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,417 shares of company stock worth $1,516,536. Company insiders own 1.11% of the company’s stock.

Hedge Funds Weigh In On Marathon Digital

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Marathon Digital by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock valued at $540,002,000 after buying an additional 441,455 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Marathon Digital by 261.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after acquiring an additional 2,340,472 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Marathon Digital by 186.6% during the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock worth $40,485,000 after purchasing an additional 1,327,969 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Marathon Digital by 4,394.8% during the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock worth $26,892,000 after purchasing an additional 1,324,625 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Marathon Digital by 12.7% during the second quarter. Millennium Management LLC now owns 1,333,856 shares of the business services provider’s stock worth $26,477,000 after purchasing an additional 149,805 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.