Marathon Digital (NASDAQ:MARA) Stock Price Down 5.4%

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares were down 5.4% during trading on Wednesday . The company traded as low as $20.83 and last traded at $20.92. Approximately 15,930,986 shares were traded during trading, a decline of 75% from the average daily volume of 63,246,102 shares. The stock had previously closed at $22.12.

Wall Street Analyst Weigh In

A number of analysts recently commented on MARA shares. StockNews.com downgraded Marathon Digital from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research report on Thursday, June 20th. Chardan Capital decreased their price target on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Marathon Digital in a research report on Friday, May 10th. Finally, B. Riley decreased their target price on Marathon Digital from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $19.33.

Marathon Digital Stock Down 5.2 %

The stock has a fifty day moving average price of $19.78 and a 200 day moving average price of $20.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 23.07 and a quick ratio of 23.07. The stock has a market capitalization of $5.93 billion, a P/E ratio of 9.76 and a beta of 5.56.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Thursday, May 9th. The business services provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. The company had revenue of $165.20 million during the quarter, compared to the consensus estimate of $193.89 million. On average, research analysts forecast that Marathon Digital Holdings, Inc. will post -0.55 earnings per share for the current year.

Insider Transactions at Marathon Digital

In other news, Director Said Ouissal sold 10,217 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $20.50, for a total value of $209,448.50. Following the completion of the transaction, the director now directly owns 60,046 shares of the company’s stock, valued at $1,230,943. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Several large investors have recently added to or reduced their stakes in MARA. Beaird Harris Wealth Management LLC boosted its stake in Marathon Digital by 121.1% during the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after buying an additional 695 shares during the period. Versant Capital Management Inc boosted its stake in Marathon Digital by 752.3% during the fourth quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock valued at $39,000 after buying an additional 1,467 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in Marathon Digital during the fourth quarter valued at $61,000. GAMMA Investing LLC bought a new stake in Marathon Digital during the fourth quarter valued at $75,000. Finally, FinTrust Capital Advisors LLC bought a new stake in Marathon Digital during the first quarter valued at $90,000. Institutional investors own 44.53% of the company’s stock.

About Marathon Digital

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.