Marathon Digital (NASDAQ:MARA) Shares Down 1% – Should You Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price was down 1% during trading on Tuesday . The company traded as low as $8.51 and last traded at $8.57. Approximately 42,798,177 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 47,284,930 shares. The stock had previously closed at $8.66.

Analyst Ratings Changes

Several analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Cantor Fitzgerald cut their price target on Marathon Digital from $21.00 to $11.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Morgan Stanley initiated coverage on Marathon Digital in a research report on Monday, February 9th. They issued an “underweight” rating and a $8.00 price objective for the company. Piper Sandler dropped their target price on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 14th. Finally, Weiss Ratings cut shares of Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, March 6th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Marathon Digital Stock Up 2.4%

The firm has a 50 day moving average of $9.18 and a 200-day moving average of $13.09. 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 stock has a market capitalization of $3.33 billion, a P/E ratio of -2.21 and a beta of 5.51.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, February 26th. The business services provider reported ($4.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($4.29). Marathon Digital had a negative return on equity of 19.01% and a negative net margin of 144.58%.The firm had revenue of $202.31 million during the quarter, compared to the consensus estimate of $250.74 million. During the same quarter in the prior year, the business posted $1.24 EPS. Marathon Digital’s revenue was down 5.6% compared to the same quarter last year. On average, equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $10.80, for a total value of $297,054.00. Following the completion of the transaction, the chief executive officer directly owned 3,517,566 shares of the company’s stock, valued at $37,989,712.80. This trade represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $11.48, for a total transaction of $398,723.36. Following the completion of the sale, the chief financial officer directly owned 248,566 shares in the company, valued at $2,853,537.68. This trade represents a 12.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 133,247 shares of company stock valued at $1,325,255 over the last 90 days. 0.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Marathon Digital

Institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management raised its position in 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 worth $25,000 after purchasing an additional 1,300 shares in the last quarter. Bessemer Group Inc. boosted its holdings 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 purchasing an additional 659 shares in the last quarter. Estabrook Capital Management bought a new stake in shares of Marathon Digital in the 2nd quarter valued at approximately $31,000. Salomon & Ludwin LLC bought a new stake in shares of Marathon Digital in the 3rd quarter valued at approximately $47,000. Finally, Danske Bank A S acquired a new position in shares of Marathon Digital in the 3rd quarter worth approximately $55,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.