Marathon Digital (NASDAQ:MARA) General Counsel Sells $99,000.00 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) General Counsel Zabi Nowaid sold 8,250 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $12.00, for a total transaction of $99,000.00. Following the sale, the general counsel directly owned 970,768 shares of the company’s stock, valued at approximately $11,649,216. This trade represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $12.00, for a total transaction of $505,080.00.

Marathon Digital Trading Up 1.9%

MARA opened at $13.81 on Friday. 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 company has a market cap of $5.27 billion, a price-to-earnings ratio of -2.41 and a beta of 5.41. The firm has a 50 day simple moving average of $10.62 and a 200 day simple moving average of $10.51. Marathon Digital Holdings, Inc. has a fifty-two week low of $6.66 and a fifty-two week high of $23.45.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share 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 the consensus estimate of $250.74 million. Marathon Digital had a negative return on equity of 23.20% and a negative net margin of 234.83%.The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the firm earned $1.24 earnings per share. On average, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -1.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Cantor Fitzgerald dropped their price target on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Morgan Stanley dropped their price target on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday. HC Wainwright reissued a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Finally, Rosenblatt Securities boosted their price target on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. 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 stock. According to data from MarketBeat, Marathon Digital presently has an average rating of “Hold” and an average price target of $18.38.

Institutional Investors Weigh In On Marathon Digital

Several large investors have recently bought and sold shares of MARA. Hollencrest Capital Management boosted its holdings 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 period. 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 holdings in shares of Marathon Digital by 56.8% in the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after buying an additional 659 shares during the period. Bogart Wealth LLC boosted its holdings in shares of Marathon Digital by 4,345.1% in the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock valued at $33,000 after buying an additional 3,954 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Marathon Digital in the fourth quarter valued at approximately $36,000. Institutional investors own 44.53% of the company’s stock.

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.