Traders Purchase Large Volume of Marathon Digital Call Options (NASDAQ:MARA)

Marathon Digital Holdings, Inc. (NASDAQ:MARA) saw some unusual options trading on Friday. Stock traders acquired 326,955 call options on the stock. This represents an increase of 44% compared to the typical daily volume of 226,691 call options.

Marathon Digital Stock Performance

Shares of NASDAQ MARA traded up $0.65 during midday trading on Friday, hitting $14.53. 55,284,950 shares of the stock traded hands, compared to its average volume of 45,509,383. The firm has a 50-day moving average of $13.07 and a two-hundred day moving average of $10.67. The firm has a market capitalization of $5.54 billion, a P/E ratio of -2.54 and a beta of 5.38. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.84 and a current ratio of 1.84. Marathon Digital has a one year low of $6.66 and a one year high of $23.45.

Insider Transactions at Marathon Digital

In related news, Director Douglas K. Mellinger sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $16.00, for a total value of $112,000.00. Following the sale, the director owned 231,618 shares in the company, valued at $3,705,888. This represents a 2.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 7,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total value of $99,750.00. Following the transaction, the general counsel owned 963,768 shares of the company’s stock, valued at $13,733,694. The trade was a 0.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 194,855 shares of company stock valued at $2,465,975 in the last three months. Company insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. United Capital Management of KS Inc. boosted its position 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 worth $731,000 after purchasing an additional 937 shares during the last quarter. CI Investments Inc. increased its position in shares of Marathon Digital by 7.6% during the 1st quarter. CI Investments Inc. now owns 13,520 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 957 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Marathon Digital by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after purchasing an additional 991 shares during the period. Evexia Wealth LLC lifted its stake in shares of Marathon Digital by 9.2% in the 1st quarter. Evexia Wealth LLC now owns 12,937 shares of the business services provider’s stock worth $106,000 after purchasing an additional 1,090 shares during the period. Finally, Sigma Planning Corp boosted its holdings in shares of Marathon Digital by 12.4% in the fourth quarter. Sigma Planning Corp now owns 11,924 shares of the business services provider’s stock worth $107,000 after buying an additional 1,320 shares during the last quarter. Institutional investors own 44.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald lowered 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. Rosenblatt Securities boosted their target price on Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. BTIG Research reaffirmed a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a report on Monday, June 1st. Finally, Morgan Stanley reduced 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, May 19th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Marathon Digital presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

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.