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

by · The Cerbat Gem

Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Free Report) General Counsel Zabi Nowaid sold 8,250 shares of Marathon Digital stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $12.00, for a total transaction of $99,000.00. Following the transaction, the general counsel directly owned 970,768 shares in the company, valued at $11,649,216. This trade represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 5.7%

MARA stock traded up $0.71 during trading on Wednesday, reaching $13.15. 51,364,307 shares of the stock were exchanged, compared to its average volume of 44,521,300. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average price of $10.42 and a 200-day moving average price of $10.52. Marathon Digital Holdings, Inc. has a 1 year low of $6.66 and a 1 year high of $23.45. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of -2.30 and a beta of 5.41.

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

Institutional Investors Weigh In On Marathon Digital

Several large investors have recently added to or reduced their stakes in MARA. Hollencrest Capital Management increased its stake in Marathon Digital by 2,407.4% during the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock worth $25,000 after buying an additional 1,300 shares during the period. Ascentis Independent Advisors purchased a new stake in shares of Marathon Digital in the 1st quarter valued at approximately $28,000. Bessemer Group Inc. increased its position in shares of Marathon Digital by 56.8% in the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 659 shares during the last quarter. Bogart Wealth LLC increased its position in shares of 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 valued at $33,000 after purchasing an additional 3,954 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Marathon Digital in the 4th quarter valued at approximately $36,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MARA shares. Morgan Stanley reduced their price target on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a research note on Tuesday. 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 reduced their price target on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Rosenblatt Securities upped their target price 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. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Seven 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. According to data from MarketBeat, Marathon Digital currently has an average rating of “Hold” and a consensus price target of $18.38.

View Our Latest Analysis on Marathon Digital

Marathon Digital Company Profile

(Get Free Report)

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.

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