Marathon Digital (NASDAQ:MARA) Shares Down 3.9% – Should You Sell?

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded down 3.9% on Tuesday . The stock traded as low as $13.66 and last traded at $14.2740. 51,268,464 shares traded hands during mid-day trading, an increase of 27% from the average session volume of 40,238,872 shares. The stock had previously closed at $14.85.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald decreased their price objective on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. BTIG Research reissued a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Monday. Weiss Ratings cut Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Finally, Rosenblatt Securities boosted their price objective on shares of Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.38.

Marathon Digital Stock Down 2.2%

The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of -2.44 and a beta of 5.38. The firm’s 50 day simple moving average is $11.46 and its 200-day simple moving average is $10.39.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $9.18, for a total value of $252,495.90. Following the transaction, the chief executive officer directly owned 4,788,954 shares of the company’s stock, valued at approximately $43,962,597.72. The trade was a 0.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 16,000 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $11.68, for a total value of $186,880.00. Following the completion of the transaction, the chief financial officer owned 441,066 shares of the company’s stock, valued at $5,151,650.88. The trade was a 3.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 180,855 shares of company stock valued at $2,033,654. 0.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Marathon Digital by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock worth $419,422,000 after acquiring an additional 1,394,559 shares in the last quarter. State Street Corp raised its position in Marathon Digital by 1.4% in the second quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock worth $210,977,000 after acquiring an additional 191,380 shares in the last quarter. UBS Group AG raised its position in Marathon Digital by 104.1% in the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after acquiring an additional 6,172,110 shares in the last quarter. Marex Group plc raised its position in Marathon Digital by 2.6% in the fourth quarter. Marex Group plc now owns 10,137,713 shares of the business services provider’s stock worth $91,037,000 after acquiring an additional 259,210 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Marathon Digital by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock worth $89,434,000 after acquiring an additional 251,674 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.