Marathon Digital Target of Unusually High Options Trading (NASDAQ:MARA)

Marathon Digital Holdings, Inc. (NASDAQ:MARA) was the recipient of unusually large options trading activity on Thursday. Traders acquired 346,284 call options on the stock. This represents an increase of approximately 49% compared to the typical volume of 232,737 call options.

Marathon Digital Stock Up 7.1%

Shares of Marathon Digital stock traded up $0.57 on Thursday, reaching $8.61. 36,160,717 shares of the company were exchanged, compared to its average volume of 47,226,707. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of -2.18 and a beta of 5.28. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.92. Marathon Digital has a one year low of $6.66 and a one year high of $23.45. The company has a 50-day moving average of $8.62 and a 200 day moving average of $12.34.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($4.29). The firm had revenue of $202.31 million during the quarter, compared to the consensus estimate of $250.74 million. Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. Marathon Digital’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 earnings per share. On average, equities research analysts forecast that Marathon Digital will post -1.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MARA. HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Cantor Fitzgerald decreased their target price on shares of Marathon Digital from $21.00 to $11.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Weiss Ratings lowered shares of Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, March 6th. Piper Sandler cut their price target on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 14th. Finally, Morgan Stanley assumed coverage on Marathon Digital in a report on Monday, February 9th. They issued an “underweight” rating and a $8.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.00.

Insiders Place Their Bets

In related news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $9.18, for a total transaction of $252,495.90. Following the completion of the transaction, the chief executive officer directly owned 4,788,954 shares in the company, valued at approximately $43,962,597.72. This trade represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 16,000 shares of Marathon Digital stock in a transaction that occurred 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 sale, the chief financial officer directly owned 343,165 shares in the company, valued at approximately $3,150,254.70. This represents a 4.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 114,515 shares of company stock valued at $1,029,678. 0.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marathon Digital

Several hedge funds have recently bought and sold shares of the company. Hollencrest Capital Management boosted its holdings in shares of Marathon Digital by 2,407.4% during the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock worth $25,000 after acquiring an additional 1,300 shares during the period. Bessemer Group Inc. increased its stake in shares of Marathon Digital by 56.8% during the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after purchasing an additional 659 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in Marathon Digital during the 4th quarter worth approximately $36,000. Hantz Financial Services Inc. boosted its stake in Marathon Digital by 344.8% in the 4th quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 3,893 shares during the period. Finally, Salomon & Ludwin LLC bought a new stake in Marathon Digital in the 3rd quarter valued at $47,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.