Frederick Thiel Sells 27,505 Shares of Marathon Digital (NASDAQ:MARA) Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $9.21, for a total transaction of $253,321.05. Following the transaction, the chief executive officer directly owned 4,335,697 shares in the company, valued at $39,931,769.37. This represents a 0.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marathon Digital Price Performance

Shares of MARA traded up $0.69 during mid-day trading on Wednesday, reaching $9.65. The stock had a trading volume of 66,733,477 shares, compared to its average volume of 45,716,527. The business has a fifty day moving average of $12.21 and a 200 day moving average of $10.98. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of -1.05 and a beta of 5.40. Marathon Digital Holdings, Inc. has a 12 month low of $6.66 and a 12 month high of $23.45.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) EPS for the quarter, missing the consensus estimate of $0.17 by ($1.77). Marathon Digital had a negative net margin of 429.71% and a negative return on equity of 26.05%. The firm had revenue of $174.88 million for the quarter, compared to the consensus estimate of $209.44 million. During the same quarter in the previous year, the business earned $1.84 earnings per share. The firm’s revenue for the quarter was down 26.7% on a year-over-year basis. Equities analysts predict that Marathon Digital Holdings, Inc. will post -1.24 EPS for the current year.

Institutional Investors Weigh In On Marathon Digital

A number of hedge funds have recently made changes to their positions in the company. Ascentis Independent Advisors purchased a new position in Marathon Digital during the 1st quarter valued at approximately $28,000. Bogart Wealth LLC increased its stake in 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 worth $33,000 after acquiring an additional 3,954 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Marathon Digital during the 4th quarter worth approximately $36,000. Hantz Financial Services Inc. boosted its position in shares of Marathon Digital by 344.8% during the 4th quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 3,893 shares during the last quarter. Finally, CoreCap Advisors LLC boosted its position in shares of Marathon Digital by 128.0% during the 2nd quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 2,050 shares during the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MARA shares. Citizens Jmp started coverage on Marathon Digital in a research note on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Marathon Digital in a research note on Friday, August 7th. Morgan Stanley lifted their price objective on shares of Marathon Digital from $5.50 to $6.00 and gave the company an “underweight” rating in a research report on Thursday, August 13th. BTIG Research reissued a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a report on Monday, June 1st. Finally, Rosenblatt Securities restated a “buy” rating and set a $15.00 target price on shares of Marathon Digital in a research report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.78.

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.