Marathon Digital (NASDAQ:MARA) Stock Price Down 6.8% Following Analyst Downgrade

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) fell 6.8% during trading on Thursday after Cantor Fitzgerald lowered their price target on the stock from $30.00 to $21.00. Cantor Fitzgerald currently has an overweight rating on the stock. Marathon Digital traded as low as $15.93 and last traded at $15.96. 38,879,447 shares were traded during mid-day trading, a decline of 16% from the average session volume of 46,349,551 shares. The stock had previously closed at $17.13.

MARA has been the subject of several other reports. Macquarie lifted their target price on shares of Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. BTIG Research reissued a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research report on Friday, September 5th. Compass Point assumed coverage on shares of Marathon Digital in a research report on Monday, September 15th. They issued a “neutral” rating and a $18.00 target price on the stock. Guggenheim started coverage on shares of Marathon Digital in a research note on Tuesday, October 21st. They set a “neutral” rating on the stock. Finally, Rosenblatt Securities lowered their price target on Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Insider Buying and Selling

In related news, Director Vicki Mealer-Burke sold 14,887 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $15.22, for a total transaction of $226,580.14. Following the sale, the director directly owned 58,103 shares in the company, valued at approximately $884,327.66. This trade represents a 20.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $19.57, for a total value of $538,272.85. Following the sale, the chief executive officer owned 3,718,700 shares in the company, valued at $72,774,959. This represents a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 203,598 shares of company stock worth $3,600,164. 0.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MARA. Emerald Advisers LLC grew its holdings in Marathon Digital by 77.4% during the second quarter. Emerald Advisers LLC now owns 579,571 shares of the business services provider’s stock worth $9,088,000 after purchasing an additional 252,864 shares during the period. Emerald Mutual Fund Advisers Trust lifted its stake in shares of Marathon Digital by 91.3% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 347,214 shares of the business services provider’s stock valued at $5,444,000 after acquiring an additional 165,688 shares during the last quarter. New York State Teachers Retirement System increased its holdings in Marathon Digital by 12.0% in the second quarter. New York State Teachers Retirement System now owns 318,656 shares of the business services provider’s stock valued at $4,997,000 after purchasing an additional 34,100 shares during the period. Rhumbline Advisers grew its holdings in Marathon Digital by 10.0% during the 1st quarter. Rhumbline Advisers now owns 917,299 shares of the business services provider’s stock worth $10,549,000 after acquiring an additional 83,242 shares during the period. Finally, Intech Investment Management LLC lifted its position in Marathon Digital by 14.5% in the 1st quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider’s stock valued at $1,848,000 after acquiring an additional 20,413 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Stock Performance

The company’s 50-day moving average is $18.09 and its two-hundred day moving average is $16.63. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. The firm has a market cap of $5.91 billion, a P/E ratio of 14.38 and a beta of 6.40.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The business had revenue of $252.41 million during the quarter, compared to the consensus estimate of $254.58 million. As a group, equities analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

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.