Marathon Digital (NASDAQ:MARA) Sets New 1-Year Low Following Insider Selling

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price hit a new 52-week low on Thursday after an insider sold shares in the company. The company traded as low as $9.61 and last traded at $9.7250, with a volume of 37179185 shares. The stock had previously closed at $9.93.

Specifically, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $11.48, for a total value of $398,723.36. Following the transaction, the chief financial officer directly owned 248,566 shares of the company’s stock, valued at $2,853,537.68. This trade represents a 12.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Analyst Ratings Changes

Several brokerages have recently issued reports on MARA. Guggenheim initiated coverage on Marathon Digital in a research note on Tuesday, October 21st. They issued a “neutral” rating on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Marathon Digital in a research note on Monday. BTIG Research reiterated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research report on Friday, September 5th. Rosenblatt Securities dropped their target price on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Finally, Compass Point raised shares of 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. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Marathon Digital Stock Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.09 and a current ratio of 2.09. The firm’s fifty day moving average price is $15.02 and its 200 day moving average price is $16.08. The firm has a market cap of $3.66 billion, a P/E ratio of 5.39 and a beta of 5.42.

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

Hedge Funds Weigh In On Marathon Digital

Institutional investors and hedge funds have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL grew its holdings in shares of Marathon Digital by 7,831.3% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 23,794 shares of the business services provider’s stock worth $478,000 after purchasing an additional 23,494 shares during the period. Swiss Life Asset Management Ltd acquired a new position in shares of Marathon Digital during the third quarter worth about $294,000. Liontrust Investment Partners LLP purchased a new stake in shares of Marathon Digital in the 3rd quarter valued at approximately $373,000. Danske Bank A S purchased a new stake in Marathon Digital during the 3rd quarter worth about $55,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Marathon Digital during the third quarter worth approximately $304,000. 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.