Marathon Digital (NASDAQ:MARA) Sets New 52-Week Low – Here’s Why

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $9.76 and last traded at $9.7530, with a volume of 18713038 shares. The stock had previously closed at $10.24.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MARA shares. Rosenblatt Securities cut their price target on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. BTIG Research reiterated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research note on Friday, September 5th. Macquarie boosted their target price on shares of Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Guggenheim assumed coverage on shares of Marathon Digital in a report on Tuesday, October 21st. They issued a “neutral” rating on the stock. Finally, Compass Point began coverage on Marathon Digital in a research note on Monday, September 15th. They set a “neutral” rating and a $18.00 price objective for the company. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Marathon Digital currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Marathon Digital Stock Down 1.7%

The business has a 50-day moving average price of $17.43 and a 200-day moving average price of $16.57. The stock has a market cap of $3.81 billion, a PE ratio of 9.07 and a beta of 6.40. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The company had revenue of $252.41 million during the quarter, compared to analysts’ expectations of $254.58 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%. As a group, analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Transactions at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $11.99, for a total value of $329,784.95. Following the sale, the chief executive officer directly owned 3,582,994 shares of the company’s stock, valued at $42,960,098.06. The trade was a 0.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Zabi Nowaid sold 25,113 shares of Marathon Digital stock in a transaction on Monday, November 10th. The stock was sold at an average price of $15.87, for a total transaction of $398,543.31. Following the sale, the general counsel directly owned 723,136 shares in the company, valued at approximately $11,476,168.32. This trade represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 234,598 shares of company stock valued at $3,876,481 in the last 90 days. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. boosted its holdings in shares of Marathon Digital by 56.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after purchasing an additional 659 shares during the last quarter. Fifth Third Bancorp boosted its stake in Marathon Digital by 59.9% during the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after buying an additional 683 shares during the last quarter. CX Institutional grew its holdings in Marathon Digital by 12.6% in the 2nd quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock valued at $105,000 after buying an additional 749 shares in the last quarter. Archer Investment Corp increased its stake in shares of Marathon Digital by 10.9% in the 2nd quarter. Archer Investment Corp now owns 7,650 shares of the business services provider’s stock worth $120,000 after acquiring an additional 750 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Marathon Digital by 15.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider’s stock worth $108,000 after acquiring an additional 799 shares during the period. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.