Marathon Digital (NASDAQ:MARA) Trading Down 2.5% – Here’s What Happened

Marathon Digital Holdings, Inc. (NASDAQ:MARA) was down 2.5% during trading on Monday . The company traded as low as $17.41 and last traded at $17.81. Approximately 38,403,033 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 46,371,105 shares. The stock had previously closed at $18.27.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Cantor Fitzgerald lifted their target price on shares of Marathon Digital from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, October 6th. BTIG Research reissued a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research report on Friday, September 5th. Rosenblatt Securities lifted their price objective on Marathon Digital from $20.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Digital in a research note on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.20.

Marathon Digital Stock Down 2.5%

The company has a market cap of $6.60 billion, a P/E ratio of 16.05 and a beta of 6.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. The business’s 50 day moving average price is $18.01 and its 200-day moving average price is $16.57.

Insiders Place Their Bets

In other news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Friday, October 17th. The stock was sold at an average price of $19.57, for a total transaction of $538,272.85. Following the sale, the chief executive officer owned 3,718,700 shares in the company, valued at approximately $72,774,959. This represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vicki Mealer-Burke sold 14,887 shares of Marathon Digital stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $15.22, for a total value of $226,580.14. Following the completion of the transaction, the director directly owned 58,103 shares of the company’s stock, valued at $884,327.66. This represents a 20.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 204,598 shares of company stock valued at $3,616,374. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marathon Digital

A number of large investors have recently modified their holdings of MARA. Hollencrest Capital Management raised its position in shares of Marathon Digital by 2,407.4% in the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 1,300 shares during the period. Fifth Third Bancorp increased its stake in Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 683 shares in the last quarter. Estabrook Capital Management acquired a new stake in Marathon Digital in the second quarter worth $31,000. IFP Advisors Inc boosted its position in shares of Marathon Digital by 375.4% during the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock worth $40,000 after purchasing an additional 2,001 shares in the last quarter. Finally, Salomon & Ludwin LLC acquired a new position in shares of Marathon Digital in the 3rd quarter valued at $47,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.