Marathon Digital (NASDAQ:MARA) Stock Price Down 5.3%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price was down 5.3% on Monday . The company traded as low as $10.31 and last traded at $10.33. Approximately 3,962,384 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 35,786,879 shares. The stock had previously closed at $10.91.

Analyst Ratings Changes

A number of analysts recently weighed in on MARA shares. B. Riley upped their price objective on shares of Marathon Digital from $8.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 10th. StockNews.com raised shares of Marathon Digital to a “sell” rating in a research report on Wednesday, August 16th. Chardan Capital lowered shares of Marathon Digital from a “buy” rating to a “neutral” rating and set a $15.00 price target for the company. in a research report on Monday, August 7th. Compass Point decreased their price target on shares of Marathon Digital from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Marathon Digital in a research report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Marathon Digital presently has a consensus rating of “Hold” and an average price target of $13.67.

Marathon Digital Stock Down 7.7 %

The stock has a market capitalization of $1.75 billion, a PE ratio of -2.52 and a beta of 5.11. The company has a current ratio of 14.91, a quick ratio of 14.91 and a debt-to-equity ratio of 1.24. The company’s 50-day moving average is $14.69 and its 200 day moving average is $11.12.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.10). Marathon Digital had a negative net margin of 284.21% and a negative return on equity of 15.80%. The company had revenue of $81.76 million during the quarter, compared to analysts’ expectations of $83.20 million. As a group, analysts anticipate that Marathon Digital Holdings, Inc. will post -0.2 EPS for the current year.

Insider Buying and Selling

In related news, Director Said Ouissal sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $10.95, for a total value of $164,250.00. Following the transaction, the director now owns 15,217 shares in the company, valued at approximately $166,626.15. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Ashu Swami sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $13.80, for a total transaction of $151,800.00. Following the sale, the director now owns 7,491 shares of the company’s stock, valued at approximately $103,375.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Said Ouissal sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $10.95, for a total transaction of $164,250.00. Following the sale, the director now directly owns 15,217 shares in the company, valued at approximately $166,626.15. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marathon Digital

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its holdings in Marathon Digital by 297.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,636,538 shares of the business services provider’s stock valued at $8,739,000 after purchasing an additional 1,224,300 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Marathon Digital during the 4th quarter worth about $4,033,000. Geode Capital Management LLC increased its position in shares of Marathon Digital by 41.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,705,238 shares of the business services provider’s stock worth $51,360,000 after purchasing an additional 1,080,124 shares during the last quarter. Vanguard Group Inc. grew its position in Marathon Digital by 10.1% in the 3rd quarter. Vanguard Group Inc. now owns 10,668,015 shares of the business services provider’s stock valued at $114,255,000 after acquiring an additional 978,569 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of Marathon Digital by 42.9% during the fourth quarter. Morgan Stanley now owns 3,181,334 shares of the business services provider’s stock worth $10,880,000 after buying an additional 954,370 shares in the last quarter. Institutional investors and hedge funds own 39.02% of the company’s stock.

Marathon Digital Company Profile

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the blockchain ecosystem and the generation of digital assets in United States. The company was formerly known as Marathon Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021.