Marathon Digital (NASDAQ:MARA) Stock Price Down 1.6% – Time to Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price was down 1.6% during trading on Thursday . The company traded as low as $18.75 and last traded at $19.01. Approximately 14,846,742 shares changed hands during trading, a decline of 72% from the average daily volume of 53,361,512 shares. The stock had previously closed at $19.32.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research report on Thursday, October 10th. B. Riley increased their target price on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Macquarie initiated coverage on Marathon Digital in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price target on the stock. Cantor Fitzgerald began coverage on Marathon Digital in a research report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $21.43.

Marathon Digital Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75. The stock has a 50 day simple moving average of $16.58 and a two-hundred day simple moving average of $18.45. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 12.34 and a beta of 5.52.

Insider Activity

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the transaction, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $481,337.50. Following the completion of the transaction, the chief executive officer now directly owns 4,250,804 shares in the company, valued at approximately $74,389,070. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the sale, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,417 shares of company stock valued at $1,516,536. 0.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MARA. Private Advisor Group LLC lifted its holdings in shares of Marathon Digital by 9.3% in the 1st quarter. Private Advisor Group LLC now owns 40,203 shares of the business services provider’s stock worth $908,000 after acquiring an additional 3,421 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in shares of Marathon Digital during the first quarter worth $1,205,000. ClariVest Asset Management LLC grew its stake in shares of Marathon Digital by 156.4% in the first quarter. ClariVest Asset Management LLC now owns 84,241 shares of the business services provider’s stock valued at $1,902,000 after buying an additional 51,380 shares in the last quarter. Swiss National Bank raised its holdings in shares of Marathon Digital by 5.4% in the 1st quarter. Swiss National Bank now owns 439,600 shares of the business services provider’s stock valued at $9,926,000 after buying an additional 22,600 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Marathon Digital during the 1st quarter worth about $333,000. 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.