Marathon Digital (NASDAQ:MARA) CEO Sells $330,060.00 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $12.00, for a total transaction of $330,060.00. Following the sale, the chief executive officer directly owned 4,589,514 shares in the company, valued at approximately $55,074,168. This represents a 0.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marathon Digital Price Performance

MARA stock traded up $0.71 during trading on Wednesday, reaching $13.15. 51,364,307 shares of the company were exchanged, compared to its average volume of 44,521,300. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $5.01 billion, a P/E ratio of -2.30 and a beta of 5.41. The stock’s 50 day moving average price is $10.42 and its 200 day moving average price is $10.52. Marathon Digital Holdings, Inc. has a 52-week low of $6.66 and a 52-week high of $23.45.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($4.29). The business had revenue of $202.31 million for the quarter, compared to analyst estimates of $250.74 million. Marathon Digital had a negative return on equity of 23.20% and a negative net margin of 234.83%.The business’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 EPS. As a group, analysts predict that Marathon Digital Holdings, Inc. will post -1.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

Institutional investors have recently modified their holdings of the company. Hollencrest Capital Management raised its position in shares of Marathon Digital by 2,407.4% in the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after buying an additional 1,300 shares during the last quarter. Ascentis Independent Advisors acquired a new position in shares of Marathon Digital in the first quarter valued at approximately $28,000. Bessemer Group Inc. boosted its stake in Marathon Digital by 56.8% in the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after buying an additional 659 shares during the last quarter. Bogart Wealth LLC boosted its stake in Marathon Digital by 4,345.1% in the 1st quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock worth $33,000 after buying an additional 3,954 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Marathon Digital in the 4th quarter worth about $36,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MARA shares. Rosenblatt Securities lifted their target price on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Cantor Fitzgerald cut their target price 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. Morgan Stanley cut their target price on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a research report on Tuesday. HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Finally, Weiss Ratings cut shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Marathon Digital has a consensus rating of “Hold” and a consensus price target of $18.38.

About Marathon Digital

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.