Zabi Nowaid Sells 8,250 Shares of Marathon Digital (NASDAQ:MARA) Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) General Counsel Zabi Nowaid sold 8,250 shares of Marathon Digital stock in a transaction dated 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 transaction, the general counsel owned 970,768 shares in the company, valued at approximately $11,649,216. This represents a 0.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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

Marathon Digital stock opened at $13.55 on Friday. Marathon Digital Holdings, Inc. has a 12-month low of $6.66 and a 12-month high of $23.45. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. The business’s 50-day moving average price is $10.52 and its two-hundred day moving average price is $10.48. The stock has a market cap of $5.17 billion, a PE ratio of -2.37 and a beta of 5.41.

Marathon Digital (NASDAQ:MARA) last released 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). Marathon Digital had a negative net margin of 234.83% and a negative return on equity of 23.20%. The business had revenue of $202.31 million during the quarter, compared to the consensus estimate of $250.74 million. During the same quarter in the prior year, the firm earned $1.24 EPS. The business’s revenue was down 5.6% on a year-over-year basis. As a group, analysts expect that Marathon Digital Holdings, Inc. will post -1.67 earnings per share for the current fiscal year.

Institutional Trading of Marathon Digital

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. grew its holdings in shares of Marathon Digital by 56.8% during the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after purchasing an additional 659 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Marathon Digital by 15.9% during the third quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider’s stock worth $108,000 after purchasing an additional 799 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Marathon Digital by 3.1% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 29,389 shares of the business services provider’s stock valued at $537,000 after acquiring an additional 882 shares during the last quarter. United Capital Management of KS Inc. boosted 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 last quarter. Finally, CI Investments Inc. boosted its holdings in Marathon Digital by 7.6% in the first quarter. CI Investments Inc. now owns 13,520 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 957 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MARA shares. Rosenblatt Securities lifted their target price on Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Morgan Stanley reduced their price target on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a report on Tuesday. Cantor Fitzgerald reduced their price target on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Weiss Ratings cut Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Finally, HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.38.

Marathon Digital Company Profile

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.