Marathon Digital (NASDAQ:MARA) Trading Down 1.5% – Should You Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded down 1.5% during trading on Wednesday . The company traded as low as $8.00 and last traded at $8.04. 30,841,223 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 47,434,754 shares. The stock had previously closed at $8.16.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MARA shares. HC Wainwright reaffirmed a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Cantor Fitzgerald reduced their price objective on shares of Marathon Digital from $21.00 to $11.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Piper Sandler decreased their target price on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Morgan Stanley initiated coverage on shares of Marathon Digital in a research note on Monday, February 9th. They issued an “underweight” rating and a $8.00 target price on the stock. Finally, Weiss Ratings cut shares of Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, March 6th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Marathon Digital has a consensus rating of “Hold” and a consensus target price of $20.00.

Marathon Digital Stock Down 1.5%

The stock has a market cap of $3.06 billion, a PE ratio of -2.03 and a beta of 5.51. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.27 and a quick ratio of 1.27. The company has a 50 day moving average price of $8.67 and a two-hundred day moving average price of $12.37.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Thursday, February 26th. The business services provider reported ($4.52) EPS for the quarter, missing the consensus estimate of ($0.23) by ($4.29). Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. The business had revenue of $202.31 million for the quarter, compared to analysts’ expectations of $250.74 million. During the same period last year, the business earned $1.24 earnings per share. The company’s quarterly revenue was down 5.6% on a year-over-year basis. Analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Transactions at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 4,788,954 shares in the company, valued at $43,962,597.72. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $9.18, for a total transaction of $146,880.00. Following the transaction, the chief financial officer directly owned 343,165 shares of the company’s stock, valued at $3,150,254.70. The trade was a 4.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 114,515 shares of company stock worth $1,029,678. Insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

A number of hedge funds have recently added to or reduced their stakes in MARA. Hollencrest Capital Management boosted its stake 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 worth $25,000 after buying an additional 1,300 shares during the last quarter. Bessemer Group Inc. increased its position in Marathon Digital by 56.8% during the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 659 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Marathon Digital during the fourth quarter valued at $36,000. Hantz Financial Services Inc. lifted its holdings in Marathon Digital by 344.8% in the fourth quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 3,893 shares during the period. Finally, Salomon & Ludwin LLC bought a new position in Marathon Digital in the third quarter valued at about $47,000. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

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.