Marathon Digital (NASDAQ:MARA) General Counsel Zabi Nowaid Sells 8,250 Shares

Marathon Digital Holdings, Inc. (NASDAQ:MARA) General Counsel Zabi Nowaid sold 8,250 shares of Marathon Digital stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $12.00, for a total value of $99,000.00. Following the completion of the transaction, the general counsel owned 970,768 shares of the company’s stock, valued at approximately $11,649,216. This represents a 0.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 shares were sold at an average price of $12.00, for a total value of $505,080.00.

Marathon Digital Price Performance

Shares of NASDAQ MARA traded up $0.71 during trading on Wednesday, hitting $13.15. The company had a trading volume of 51,364,307 shares, compared to its average volume of 44,521,300. The stock has a fifty day simple moving average of $10.42 and a two-hundred day simple moving average of $10.52. Marathon Digital Holdings, Inc. has a fifty-two week low of $6.66 and a fifty-two week 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. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MARA. Rosenblatt Securities lifted their target price on shares of Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Weiss Ratings lowered shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Morgan Stanley dropped their target price on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a research report on Tuesday. Cantor Fitzgerald dropped their target price on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Seven 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.38.

Hedge Funds Weigh In On Marathon Digital

Several hedge funds and other institutional investors have recently modified their holdings of MARA. Hollencrest Capital Management lifted its stake in shares of Marathon Digital by 2,407.4% in the third 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 in the last quarter. Ascentis Independent Advisors purchased a new position in shares of Marathon Digital in the first quarter worth about $28,000. Bessemer Group Inc. lifted its stake in shares of Marathon Digital by 56.8% in the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after buying an additional 659 shares in the last quarter. Bogart Wealth LLC lifted its stake in shares of Marathon Digital by 4,345.1% in the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock worth $33,000 after buying an additional 3,954 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Marathon Digital in the fourth quarter worth about $36,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.