Marathon Digital (NASDAQ:MARA) CEO Sells $297,054.00 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of the stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $10.80, for a total value of $297,054.00. Following the sale, the chief executive officer owned 3,517,566 shares of the company’s stock, valued at approximately $37,989,712.80. The trade was a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Marathon Digital Trading Down 2.6%

Shares of Marathon Digital stock traded down $0.27 on Thursday, hitting $10.29. 41,864,620 shares of the company’s stock traded hands, compared to its average volume of 41,700,016. The company has a fifty day moving average of $10.78 and a two-hundred day moving average of $15.12. Marathon Digital Holdings, Inc. has a one year low of $8.95 and a one year high of $23.45. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 5.72 and a beta of 5.34. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The business had revenue of $252.41 million during the quarter, compared to analyst estimates of $254.58 million. Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. As a group, sell-side analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MARA. Massachusetts Financial Services Co. MA purchased a new position in Marathon Digital in the fourth quarter worth $10,201,000. Newbridge Financial Services Group Inc. raised its stake in shares of Marathon Digital by 54.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 64,900 shares of the business services provider’s stock worth $583,000 after purchasing an additional 22,950 shares during the period. Stratos Wealth Partners LTD. bought a new stake in shares of Marathon Digital during the 4th quarter worth $149,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Marathon Digital in the 4th quarter worth about $260,000. Finally, Exchange Traded Concepts LLC grew its position in Marathon Digital by 47.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,539,210 shares of the business services provider’s stock valued at $13,822,000 after buying an additional 494,161 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on MARA. JPMorgan Chase & Co. decreased their price target on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Cantor Fitzgerald cut their price objective on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Piper Sandler decreased their target price on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Marathon Digital in a research note on Monday, December 29th. Finally, Guggenheim started coverage on Marathon Digital in a report on Tuesday, October 21st. They issued a “neutral” rating on the stock. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Marathon Digital has a consensus rating of “Moderate Buy” and an average price target of $22.44.

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.