Marathon Digital (NASDAQ:MARA) Stock Price Down 7.1% – What’s Next?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares dropped 7.1% on Monday . The company traded as low as $10.58 and last traded at $10.70. Approximately 44,391,861 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 46,241,480 shares. The stock had previously closed at $11.52.

Analyst Upgrades and Downgrades

MARA has been the subject of a number of research reports. Guggenheim began coverage on shares of Marathon Digital in a research note on Tuesday, October 21st. They issued a “neutral” rating for the company. Rosenblatt Securities cut their price target on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Cantor Fitzgerald decreased their price objective on Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Macquarie increased 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. Finally, BTIG Research reaffirmed a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research note on Friday, September 5th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Marathon Digital Stock Performance

The company has a market capitalization of $4.05 billion, a PE ratio of 5.94 and a beta of 5.42. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09. The company has a 50 day moving average of $15.61 and a two-hundred day moving average of $16.18.

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

Insider Activity

In related news, General Counsel Zabi Nowaid sold 25,113 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $15.87, for a total value of $398,543.31. Following the transaction, the general counsel directly owned 723,136 shares of the company’s stock, valued at approximately $11,476,168.32. This represents a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $11.99, for a total transaction of $329,784.95. Following the sale, the chief executive officer directly owned 3,582,994 shares in the company, valued at approximately $42,960,098.06. The trade was a 0.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 183,979 shares of company stock worth $3,069,753 over the last 90 days. 0.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. boosted its position in shares of 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 purchasing an additional 659 shares in the last quarter. Fifth Third Bancorp grew its position in Marathon Digital by 59.9% during the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after buying an additional 683 shares during the period. CX Institutional grew its position in shares of Marathon Digital by 12.6% during the 2nd quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 749 shares during the period. Archer Investment Corp raised its stake in shares of Marathon Digital by 10.9% during the 2nd quarter. Archer Investment Corp now owns 7,650 shares of the business services provider’s stock worth $120,000 after buying an additional 750 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of Marathon Digital by 15.9% in the third quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider’s stock valued at $108,000 after purchasing an additional 799 shares during the period. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.