Douglas Mellinger Sells 7,000 Shares of Marathon Digital (NASDAQ:MARA) Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) Director Douglas Mellinger sold 7,000 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.00, for a total transaction of $112,000.00. Following the completion of the transaction, the director directly owned 231,618 shares of the company’s stock, valued at approximately $3,705,888. The trade was a 2.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marathon Digital Trading Down 0.9%

Shares of NASDAQ MARA opened at $13.88 on Friday. The business’s 50 day moving average is $13.07 and its two-hundred day moving average is $10.67. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. Marathon Digital Holdings, Inc. has a 1-year low of $6.66 and a 1-year high of $23.45. The stock has a market capitalization of $5.29 billion, a P/E ratio of -2.43 and a beta of 5.38.

Wall Street Analysts Forecast Growth

MARA has been the topic of several recent research reports. HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Citizens Jmp started coverage on shares of Marathon Digital in a research report on Wednesday. They set a “market outperform” rating and a $24.00 price objective on the stock. Rosenblatt Securities increased their target price on shares of Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Cantor Fitzgerald lowered their target price on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Finally, Morgan Stanley dropped their price target on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday, May 19th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Institutional Investors Weigh In On Marathon Digital

Institutional investors and hedge funds have recently modified their holdings of the business. Ascentis Independent Advisors bought a new position in Marathon Digital in the 1st quarter valued at $28,000. Bogart Wealth LLC increased its stake in 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 purchasing an additional 3,954 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in shares of Marathon Digital during the fourth quarter worth $36,000. Hantz Financial Services Inc. lifted its position in shares of Marathon Digital by 344.8% during the fourth quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock worth $45,000 after purchasing an additional 3,893 shares during the last quarter. Finally, Danske Bank A S boosted its stake in shares of Marathon Digital by 93.3% during the fourth quarter. Danske Bank A S now owns 5,800 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 2,800 shares during the period. 44.53% of the stock is owned by 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.