Marathon Digital (NASDAQ:MARA) Trading Down 5.6% – What’s Next?

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) dropped 5.6% during trading on Friday . The company traded as low as $11.63 and last traded at $11.74. Approximately 37,287,756 shares changed hands during trading, a decline of 20% from the average daily volume of 46,377,637 shares. The stock had previously closed at $12.44.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, November 24th. Compass Point upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Monday, November 24th. Guggenheim started coverage on Marathon Digital in a research note on Tuesday, October 21st. They issued a “neutral” rating for the company. BTIG Research reiterated a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research report on Friday, September 5th. Finally, Macquarie upped their target price on Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.50.

Marathon Digital Stock Down 5.6%

The company has a market cap of $4.44 billion, a PE ratio of 6.52 and a beta of 5.42. The firm has a 50-day simple moving average of $16.37 and a two-hundred day simple moving average of $16.33. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The company had revenue of $252.41 million during the quarter, compared to analysts’ expectations of $254.58 million. Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. Research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Zabi Nowaid sold 25,113 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $15.87, for a total transaction of $398,543.31. Following the sale, the general counsel owned 723,136 shares in the company, valued at approximately $11,476,168.32. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $11.99, for a total transaction of $329,784.95. Following the completion of the sale, the chief executive officer directly owned 3,582,994 shares of the company’s stock, valued at $42,960,098.06. The trade was a 0.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 234,598 shares of company stock valued at $3,876,481 over the last quarter. 0.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marathon Digital

Hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management grew its position in shares of Marathon Digital by 2,407.4% in the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 1,300 shares during the period. Bessemer Group Inc. boosted its stake in Marathon Digital by 56.8% in the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after buying an additional 659 shares during the last quarter. Fifth Third Bancorp boosted its stake in Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after buying an additional 683 shares during the last quarter. Estabrook Capital Management purchased a new stake in Marathon Digital in the 2nd quarter valued at about $31,000. Finally, Salomon & Ludwin LLC acquired a new position in shares of Marathon Digital during the 3rd quarter valued at about $47,000. Institutional investors and hedge funds 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.