Key Points
- Marathon Digital CFO Salman Hassan Khan sold 16,000 shares on June 17 at an average price of $14.25, totaling $228,000. After the sale, he still owned 409,066 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- This was the third recent sale by Khan, following similar 16,000-share sales in May and April at lower prices of $12.00 and $11.68, respectively.
- Analyst views on MARA remain mixed: Morgan Stanley cut its target to $7 and rated it underweight, while BTIG and Rosenblatt maintained bullish views. MarketBeat says the stock’s consensus rating is Hold with a $18.38 average target price.
Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) General Counsel Zabi Nowaid sold 7,000 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total value of $99,750.00. Following the transaction, the general counsel directly owned 963,768 shares in the company, valued at $13,733,694. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 Monday, May 18th, Zabi Nowaid sold 8,250 shares of Marathon Digital stock. The shares were sold at an average price of $12.00, for a total value of $99,000.00.
- 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 Trading Up 4.4%
MARA stock opened at $14.85 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. The company has a fifty day moving average price of $12.83 and a two-hundred day moving average price of $10.63. Marathon Digital Holdings, Inc. has a one year low of $6.66 and a one year high of $23.45. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of -2.60 and a beta of 5.38.
Analysts Set New Price Targets
Several research analysts have weighed in on MARA shares. Morgan Stanley lowered their price target on shares of Marathon Digital from $8.50 to $7.00 and set an "underweight" rating on the stock in a report on Tuesday, May 19th. Cantor Fitzgerald lowered their target price on Marathon Digital from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. HC Wainwright reissued a "neutral" rating on shares of Marathon Digital in a report on Friday, February 27th. Weiss Ratings downgraded Marathon Digital from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, May 12th. Finally, BTIG Research restated a "buy" rating and issued a $27.00 price target on shares of Marathon Digital in a research note on Monday, June 1st. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $18.38.
Get Our Latest Report on MARA
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Danske Bank A S acquired a new stake in shares of Marathon Digital in the third quarter valued at approximately $55,000. Ascentis Independent Advisors bought a new position in Marathon Digital during the 1st quarter worth $28,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Marathon Digital during the 4th quarter valued at $36,000. Bogart Wealth LLC lifted its position in shares of Marathon Digital by 4,345.1% during the 1st quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider's stock valued at $33,000 after acquiring an additional 3,954 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in shares of Marathon Digital during the 3rd quarter worth $79,000. 44.53% of the stock is owned by institutional investors.
About Marathon Digital
(
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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