Marathon Digital (NASDAQ:MARA) Sets New 52-Week Low – Should You Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) hit a new 52-week low on Friday . The company traded as low as $9.43 and last traded at $9.49, with a volume of 10300589 shares changing hands. The stock had previously closed at $9.94.

Wall Street Analyst Weigh In

MARA has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price target on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, November 24th. Cantor Fitzgerald lowered their price objective on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Compass Point raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Monday, November 24th. BTIG Research restated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a report on Friday, September 5th. Finally, Guggenheim started coverage on shares of Marathon Digital in a research note on Tuesday, October 21st. They set a “neutral” rating on the stock. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.56.

Marathon Digital Stock Down 3.5%

The business’s fifty day moving average price is $13.53 and its two-hundred day moving average price is $15.81. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.09 and a current ratio of 2.09. The firm has a market capitalization of $3.63 billion, a P/E ratio of 5.33 and a beta of 5.42.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data 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 firm had revenue of $252.41 million for the quarter, compared to the consensus estimate of $254.58 million. Marathon Digital had a negative return on equity of 2.59% and a net margin of 100.82%. Equities analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Activity at Marathon Digital

In other Marathon Digital news, General Counsel Zabi Nowaid sold 25,113 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $15.87, for a total value of $398,543.31. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $11.99, for a total value of $416,436.68. Following the sale, the chief financial officer owned 283,298 shares in the company, valued at $3,396,743.02. The trade was a 10.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 218,711 shares of company stock valued at $3,286,669 in the last ninety days. Corporate insiders own 0.80% of the company’s stock.

Institutional Trading of Marathon Digital

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Marathon Digital by 9.8% in the third quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock worth $827,392,000 after buying an additional 4,049,979 shares during the last quarter. State Street Corp increased its position in shares of Marathon Digital by 1.4% in the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock valued at $210,977,000 after acquiring an additional 191,380 shares during the period. UBS Group AG raised its stake in Marathon Digital by 104.1% in the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after acquiring an additional 6,172,110 shares during the last quarter. Geode Capital Management LLC lifted its position in Marathon Digital by 3.5% during the 2nd quarter. Geode Capital Management LLC now owns 9,225,303 shares of the business services provider’s stock worth $144,669,000 after acquiring an additional 315,499 shares during the period. Finally, American Century Companies Inc. grew its stake in Marathon Digital by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 6,781,198 shares of the business services provider’s stock valued at $106,329,000 after purchasing an additional 491,245 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Company Profile

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.