Key Points
- Marathon Digital CFO Salman Hassan Khan sold 16,000 shares on May 18 at an average price of $12.00, totaling $192,000. The sale was made under a pre-arranged Rule 10b5-1 plan, and his remaining stake was valued at about $5.1 million.
- This was not an isolated sale: Khan also sold 16,000 shares in both March and April, suggesting a steady pattern of insider selling in recent months.
- Analysts remain cautious on MARA, with Morgan Stanley cutting its price target to $7 and maintaining an underweight rating, even as the stock recently traded up 5.7% to $13.15.
Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) General Counsel Zabi Nowaid sold 8,250 shares of the business's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $12.00, for a total value of $99,000.00. Following the completion of the sale, the general counsel owned 970,768 shares in the company, valued at approximately $11,649,216. The trade was a 0.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Zabi Nowaid also recently made the following trade(s):
- On Friday, April 17th, Zabi Nowaid sold 42,090 shares of Marathon Digital stock. The shares were sold at an average price of $12.00, for a total value of $505,080.00.
Marathon Digital Stock Performance
Shares of MARA opened at $13.15 on Thursday. The firm has a market cap of $5.01 billion, a PE ratio of -2.30 and a beta of 5.41. The stock's fifty day moving average price is $10.42 and its two-hundred day moving average price is $10.52. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. Marathon Digital Holdings, Inc. has a 1 year low of $6.66 and a 1 year high of $23.45.
Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($4.29). Marathon Digital had a negative net margin of 234.83% and a negative return on equity of 23.20%. The firm had revenue of $202.31 million during the quarter, compared to the consensus estimate of $250.74 million. During the same quarter in the previous year, the firm earned $1.24 earnings per share. The business's quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -1.67 EPS for the current year.
Analyst Ratings Changes
MARA has been the subject of several recent analyst reports. Morgan Stanley reduced their target price on Marathon Digital from $8.50 to $7.00 and set an "underweight" rating for the company in a research report on Tuesday. Rosenblatt Securities boosted their target price on Marathon Digital from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Weiss Ratings cut Marathon Digital from a "sell (d)" rating to a "sell (d-)" rating in a research report on Tuesday, May 12th. Cantor Fitzgerald reduced their target price on Marathon Digital from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Finally, HC Wainwright restated a "neutral" rating on shares of Marathon Digital in a research report on Friday, February 27th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $18.38.
Read Our Latest Research Report on Marathon Digital
Institutional Trading of Marathon Digital
Several hedge funds and other institutional investors have recently bought and sold shares of MARA. Integrated Wealth Concepts LLC boosted its stake in Marathon Digital by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider's stock worth $127,000 after buying an additional 991 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Marathon Digital by 65.3% in the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider's stock worth $88,000 after buying an additional 3,032 shares in the last quarter. United Services Automobile Association boosted its stake in Marathon Digital by 8.2% in the first quarter. United Services Automobile Association now owns 20,634 shares of the business services provider's stock worth $257,000 after buying an additional 1,569 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Marathon Digital by 11.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider's stock worth $7,398,000 after buying an additional 63,903 shares in the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in Marathon Digital in the second quarter worth approximately $183,000. Hedge funds and other institutional investors own 44.53% of the company's stock.
Marathon Digital Company Profile
(
Get Free Report)
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.
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