Marathon Digital (NASDAQ:MARA) CFO Salman Hassan Khan Sells 16,000 Shares

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $9.18, for a total value of $146,880.00. Following the transaction, the chief financial officer directly owned 343,165 shares in the company, valued at approximately $3,150,254.70. This represents a 4.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Salman Hassan Khan also recently made the following trade(s):

• On Tuesday, February 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The stock was sold at an average price of $7.66, for a total value of $122,560.00.

Marathon Digital Trading Up 3.4%

NASDAQ MARA traded up $0.30 on Thursday, hitting $9.22. 42,740,789 shares of the stock were exchanged, compared to its average volume of 49,132,160. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.27 and a current ratio of 1.27. Marathon Digital Holdings, Inc. has a 52-week low of $6.66 and a 52-week high of $23.45. The firm has a market capitalization of $3.51 billion, a P/E ratio of -2.33 and a beta of 5.51. The stock has a fifty day moving average price of $9.07 and a two-hundred day moving average price of $12.83.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($4.29). The firm had revenue of $202.31 million during the quarter, compared to analysts’ expectations of $250.74 million. Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. The company’s revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.24 EPS. Research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on MARA. JPMorgan Chase & Co. decreased their price objective on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Weiss Ratings cut Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, March 6th. Piper Sandler reduced their price target on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Monday, November 24th. Finally, Cantor Fitzgerald cut their price objective on Marathon Digital from $21.00 to $11.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Hedge Funds Weigh In On Marathon Digital

Hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its position 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 acquiring an additional 659 shares during the period. Archer Investment Corp boosted its holdings in shares of Marathon Digital by 10.9% in the second quarter. Archer Investment Corp now owns 7,650 shares of the business services provider’s stock valued at $120,000 after purchasing an additional 750 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Marathon Digital by 15.9% in the third quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider’s stock valued at $108,000 after purchasing an additional 799 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake 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 worth $537,000 after purchasing an additional 882 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in Marathon Digital by 2.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 35,443 shares of the business services provider’s stock worth $556,000 after purchasing an additional 934 shares during the period. 44.53% of the stock is currently owned by institutional investors.

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.