Marathon Digital (NASDAQ:MARA) CFO Salman Hassan Khan Sells 16,000 Shares of Stock
by Danessa Lincoln · The Markets DailyMarathon Digital Holdings, Inc. (NASDAQ:MARA – Get Free Report) CFO Salman Hassan Khan sold 16,000 shares of Marathon Digital stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 343,165 shares of the company’s stock, valued at $3,150,254.70. This represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
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 shares were sold at an average price of $7.66, for a total value of $122,560.00.
Marathon Digital Stock Performance
MARA opened at $9.01 on Friday. 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 cap of $3.43 billion, a P/E ratio of -2.28 and a beta of 5.51. The business’s fifty day moving average is $9.07 and its 200-day moving average is $12.83.
Marathon Digital (NASDAQ:MARA – Get Free Report) last posted its quarterly 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 net margin of 144.58% and a negative return on equity of 19.01%. The company had revenue of $202.31 million during the quarter, compared to analyst estimates of $250.74 million. During the same period last year, the firm earned $1.24 EPS. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. Sell-side analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.
Hedge Funds Weigh In On Marathon Digital
Large investors have recently bought and sold shares of the stock. Hsbc Holdings PLC acquired a new stake in shares of Marathon Digital during the 4th quarter worth approximately $5,220,000. Tobam boosted its holdings in shares of Marathon Digital by 3.6% during the fourth quarter. Tobam now owns 58,338 shares of the business services provider’s stock worth $524,000 after purchasing an additional 2,045 shares during the period. Alpine Global Management LLC grew its holdings in shares of Marathon Digital by 208,433.3% during the 4th quarter. Alpine Global Management LLC now owns 18,768 shares of the business services provider’s stock valued at $169,000 after acquiring an additional 18,759 shares in the last quarter. Vident Advisory LLC raised its position in Marathon Digital by 71.0% during the fourth quarter. Vident Advisory LLC now owns 1,693,604 shares of the business services provider’s stock valued at $15,209,000 after acquiring an additional 703,262 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Marathon Digital by 29.3% in the fourth quarter. Mackenzie Financial Corp now owns 45,045 shares of the business services provider’s stock valued at $419,000 after acquiring an additional 10,194 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.
Analyst Ratings Changes
MARA has been the topic of several analyst reports. Morgan Stanley initiated coverage on shares of Marathon Digital in a research report on Monday, February 9th. They set an “underweight” rating and a $8.00 price target on the stock. Piper Sandler cut their target price on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Compass Point raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Monday, November 24th. JPMorgan Chase & Co. cut their price objective on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Finally, Cantor Fitzgerald reduced their price target on Marathon Digital from $21.00 to $11.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $20.00.
Check Out Our Latest Report on Marathon Digital
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.