Key Points
- Marathon Digital director Douglas Mellinger sold 7,000 shares on June 22 at an average price of $16.00, totaling $112,000. The sale reduced his holdings by 2.93% and was made under a pre-arranged Rule 10b5-1 trading plan.
- The stock has drawn mixed Wall Street views, with analysts including Morgan Stanley and Weiss Ratings issuing cautious or bearish calls, while Citizens JMP initiated coverage with a $24 price target. The current consensus rating is Moderate Buy with an average target price of $19.00.
- Institutional investors still hold a significant stake in Marathon Digital, owning 44.53% of the company. Several funds increased their positions recently, even as the stock traded at $13.96 and remained highly volatile.
Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) Director Douglas Mellinger sold 7,000 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.00, for a total value of $112,000.00. Following the completion of the transaction, the director directly owned 231,618 shares in the company, valued at approximately $3,705,888. The trade was a 2.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Marathon Digital Price Performance
Marathon Digital stock opened at $13.96 on Thursday. Marathon Digital Holdings, Inc. has a 12 month low of $6.66 and a 12 month high of $23.45. 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 business has a 50 day simple moving average of $13.00 and a 200-day simple moving average of $10.65. The stock has a market capitalization of $5.32 billion, a PE ratio of -2.44 and a beta of 5.38.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Weiss Ratings downgraded shares of Marathon Digital from a "sell (d)" rating to a "sell (d-)" rating in a research report on Tuesday, May 12th. Morgan Stanley dropped their price target on shares of Marathon Digital from $8.50 to $7.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 19th. Citizens Jmp initiated coverage on shares of Marathon Digital in a research note on Wednesday. They set a "market outperform" rating and a $24.00 price target on the stock. HC Wainwright reissued a "neutral" rating on shares of Marathon Digital in a report on Friday, February 27th. Finally, Cantor Fitzgerald reduced their price objective on shares of Marathon Digital from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Eight investment 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. Based on data from MarketBeat, Marathon Digital currently has a consensus rating of "Moderate Buy" and an average price target of $19.00.
Get Our Latest Analysis on Marathon Digital
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. United Capital Management of KS Inc. lifted its holdings in Marathon Digital by 2.4% in the third quarter. United Capital Management of KS Inc. now owns 40,054 shares of the business services provider's stock valued at $731,000 after acquiring an additional 937 shares during the period. CI Investments Inc. boosted its position in shares of Marathon Digital by 7.6% during the 1st quarter. CI Investments Inc. now owns 13,520 shares of the business services provider's stock worth $110,000 after purchasing an additional 957 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Marathon Digital by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider's stock worth $127,000 after purchasing an additional 991 shares during the period. Evexia Wealth LLC grew its stake in shares of Marathon Digital by 9.2% during the 1st quarter. Evexia Wealth LLC now owns 12,937 shares of the business services provider's stock worth $106,000 after purchasing an additional 1,090 shares during the period. Finally, Sigma Planning Corp increased its holdings in shares of Marathon Digital by 12.4% in the 4th quarter. Sigma Planning Corp now owns 11,924 shares of the business services provider's stock valued at $107,000 after purchasing an additional 1,320 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.
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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