Traders Buy High Volume of Call Options on Marathon Digital (NASDAQ:MARA)

Marathon Digital Holdings, Inc. (NASDAQ:MARA) saw unusually large options trading activity on Friday. Traders bought 326,955 call options on the stock. This is an increase of 44% compared to the average daily volume of 226,691 call options.

Insider Buying and Selling at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total value of $391,946.25. Following the sale, the chief executive officer owned 4,562,009 shares in the company, valued at $65,008,628.25. This represents a 0.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 dated Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total transaction of $99,750.00. Following the completion of the transaction, the general counsel directly owned 963,768 shares in the company, valued at approximately $13,733,694. The trade was a 0.72% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 194,855 shares of company stock valued at $2,465,975. Insiders own 0.97% of the company’s stock.

Institutional Trading of Marathon Digital

A number of hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC grew its stake in 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 valued at $127,000 after purchasing an additional 991 shares during the period. NewEdge Advisors LLC raised its stake in shares of Marathon Digital by 65.3% during the 1st quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock worth $88,000 after purchasing an additional 3,032 shares during the period. United Services Automobile Association raised its stake in shares of Marathon Digital by 8.2% during the 1st quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock worth $257,000 after purchasing an additional 1,569 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Marathon Digital by 11.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider’s stock worth $7,398,000 after buying an additional 63,903 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Marathon Digital in the 2nd quarter worth about $183,000. 44.53% of the stock is currently owned by institutional investors.

Marathon Digital Trading Up 4.7%

NASDAQ:MARA opened at $14.53 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of -2.54 and a beta of 5.38. Marathon Digital has a 52 week low of $6.66 and a 52 week high of $23.45. The firm has a 50-day moving average price of $13.15 and a two-hundred day moving average price of $10.69.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MARA. Cantor Fitzgerald dropped their target price on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Citizens Jmp started coverage on Marathon Digital in a report on Wednesday. They set a “market outperform” rating and a $24.00 price target for the company. BTIG Research reissued a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research report on Monday, June 1st. Morgan Stanley dropped their price objective on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 19th. Finally, Rosenblatt Securities lifted their price objective on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.00.

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.