Marathon Digital Holdings, Inc. (NASDAQ:MARA) Director Sells $16,050.00 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) Director Douglas K. Mellinger sold 1,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $16.05, for a total value of $16,050.00. Following the completion of the sale, the director now owns 142,756 shares of the company’s stock, valued at $2,291,233.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Marathon Digital Stock Down 2.3 %

Shares of MARA traded down $0.35 during trading hours on Wednesday, hitting $15.14. The stock had a trading volume of 29,558,263 shares, compared to its average volume of 59,662,984. The company has a debt-to-equity ratio of 0.13, a current ratio of 23.07 and a quick ratio of 23.07. The firm has a 50 day simple moving average of $19.98 and a 200-day simple moving average of $20.40. The firm has a market capitalization of $4.28 billion, a P/E ratio of 7.04 and a beta of 5.56. Marathon Digital Holdings, Inc. has a 1-year low of $7.16 and a 1-year high of $34.09.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.86%. The business had revenue of $145.14 million during the quarter, compared to the consensus estimate of $157.86 million. During the same period in the previous year, the business posted ($0.13) EPS. Marathon Digital’s revenue was up 77.5% compared to the same quarter last year. Sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

Hedge funds have recently modified their holdings of the company. Beaird Harris Wealth Management LLC lifted its position in shares of Marathon Digital by 121.1% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after buying an additional 695 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Marathon Digital during the 4th quarter worth approximately $61,000. GAMMA Investing LLC bought a new position in shares of Marathon Digital during the 4th quarter worth approximately $75,000. FinTrust Capital Advisors LLC bought a new position in shares of Marathon Digital during the 1st quarter worth approximately $90,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Marathon Digital during the 1st quarter worth approximately $105,000. Institutional investors own 44.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Chardan Capital decreased their price objective on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. StockNews.com downgraded Marathon Digital from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of Marathon Digital in a report on Friday, May 10th. JPMorgan Chase & Co. decreased their price target on Marathon Digital from $16.50 to $14.00 and set an “underweight” rating for the company in a report on Tuesday, June 4th. Finally, B. Riley increased their price target on Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.55.

Marathon Digital Company Profile

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem 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. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.