Marathon Digital (NASDAQ:MARA) Trading Down 2.1%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price traded down 2.1% on Tuesday . The company traded as low as $15.69 and last traded at $15.73. 13,159,604 shares were traded during trading, a decline of 76% from the average session volume of 55,415,957 shares. The stock had previously closed at $16.07.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research report on Thursday, June 20th. JPMorgan Chase & Co. dropped their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Finally, B. Riley upped their price objective on Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.22.

Marathon Digital Trading Up 1.2 %

The firm has a 50 day moving average price of $17.71 and a two-hundred day moving average price of $18.91. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 7.32 and a beta of 5.51. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The business had revenue of $145.14 million for the quarter, compared to analyst estimates of $157.86 million. During the same period in the prior year, the business earned ($0.13) EPS. The company’s revenue for the quarter was up 77.5% on a year-over-year basis. As a group, equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the transaction, the chief financial officer now owns 2,103,347 shares in the company, valued at $33,022,547.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the sale, the chief financial officer now directly owns 2,103,347 shares in the company, valued at $33,022,547.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction on Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the sale, the chief executive officer now owns 4,278,309 shares in the company, valued at $67,169,451.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,212 shares of company stock worth $726,178. Corporate insiders own 1.11% of the company’s stock.

Institutional Trading of Marathon Digital

Hedge funds have recently bought and sold shares of the business. Rhumbline Advisers increased its position in Marathon Digital by 126.5% in the second quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock worth $15,615,000 after buying an additional 439,309 shares during the last quarter. Vima LLC purchased a new stake in Marathon Digital in the fourth quarter worth $949,000. Virtu Financial LLC purchased a new stake in Marathon Digital in the fourth quarter worth $1,629,000. American International Group Inc. increased its position in Marathon Digital by 4.3% in the first quarter. American International Group Inc. now owns 110,489 shares of the business services provider’s stock worth $2,495,000 after buying an additional 4,593 shares during the last quarter. Finally, Public Sector Pension Investment Board purchased a new stake in Marathon Digital in the second quarter worth $11,920,000. 44.53% of the stock is currently owned by institutional investors.

Marathon Digital Company Profile

Marathon Digital 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 Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.