Marathon Digital (NASDAQ:MARA) Trading Down 5.3%

Marathon Digital Holdings, Inc. (NASDAQ:MARA) was down 5.3% during mid-day trading on Tuesday . The stock traded as low as $10.01 and last traded at $10.08. Approximately 6,952,383 shares traded hands during trading, a decline of 80% from the average daily volume of 35,494,992 shares. The stock had previously closed at $10.64.

Analyst Upgrades and Downgrades

MARA has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on shares of Marathon Digital in a research note on Wednesday, October 11th. They issued an “underweight” rating and a $5.00 target price on the stock. Needham & Company LLC started coverage on Marathon Digital in a research report on Monday, October 2nd. They set a “hold” rating on the stock. Chardan Capital cut Marathon Digital from a “buy” rating to a “neutral” rating and set a $15.00 target price for the company. in a report on Monday, August 7th. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Marathon Digital in a report on Wednesday, September 6th. Finally, StockNews.com raised shares of Marathon Digital to a “sell” rating in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $11.91.

Marathon Digital Trading Down 3.4 %

The business has a fifty day moving average price of $8.87 and a two-hundred day moving average price of $11.32. The company has a current ratio of 11.33, a quick ratio of 11.33 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $2.29 billion, a PE ratio of -3.37 and a beta of 5.18.

Insiders Place Their Bets

In related news, Director Ashu Swami sold 11,000 shares of the 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 completion of the transaction, the director now owns 7,491 shares of the company’s stock, valued at approximately $103,375.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marathon Digital

Several institutional investors and hedge funds have recently modified their holdings of the company. Advisor Group Holdings Inc. grew its position in Marathon Digital by 68.3% in the 4th quarter. Advisor Group Holdings Inc. now owns 7,353 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 2,984 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Marathon Digital by 96.8% in the second quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 2,641 shares in the last quarter. Smith Anglin Financial LLC purchased a new stake in Marathon Digital during the 4th quarter worth approximately $34,000. Cetera Advisors LLC acquired a new stake in Marathon Digital during the 4th quarter worth approximately $36,000. Finally, Salem Investment Counselors Inc. boosted its position in Marathon Digital by 80.0% in the 2nd quarter. Salem Investment Counselors Inc. now owns 2,700 shares of the business services provider’s stock valued at $37,000 after buying an additional 1,200 shares during the period. Hedge funds and other institutional investors own 39.02% 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 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.