Marathon Digital Holdings, Inc. (NASDAQ:MARA) Director Sells $16,770.00 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) Director Douglas K. Mellinger sold 1,000 shares of Marathon Digital stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $16.77, for a total value of $16,770.00. Following the completion of the transaction, the director now directly owns 140,756 shares in the company, valued at $2,360,478.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Marathon Digital Stock Up 6.9 %

Shares of NASDAQ MARA traded up $1.16 during trading hours on Wednesday, hitting $18.08. The stock had a trading volume of 52,568,934 shares, compared to its average volume of 54,077,336. Marathon Digital Holdings, Inc. has a 52 week low of $7.63 and a 52 week high of $34.09. The company has a market capitalization of $5.11 billion, a P/E ratio of 8.30 and a beta of 5.50. The firm’s 50-day moving average price is $16.11 and its two-hundred day moving average price is $18.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The business had revenue of $145.14 million during the quarter, compared to the consensus estimate of $157.86 million. During the same period in the previous year, the firm earned ($0.13) EPS. The business’s revenue was up 77.5% compared to the same quarter last year. Analysts anticipate that Marathon Digital Holdings, Inc. will post -1.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on MARA. Cantor Fitzgerald assumed coverage on shares of Marathon Digital in a research report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective for the company. B. Riley boosted their target price on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Macquarie assumed coverage on shares of Marathon Digital in a research report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Marathon Digital has an average rating of “Hold” and a consensus target price of $19.79.

Hedge Funds Weigh In On Marathon Digital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Beaird Harris Wealth Management LLC grew its stake in shares of Marathon Digital by 121.1% during the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 695 shares during the last quarter. FinTrust Capital Advisors LLC bought a new stake in shares of Marathon Digital during the first quarter worth $90,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Marathon Digital during the first quarter valued at $105,000. Tobam boosted its holdings in Marathon Digital by 173.0% in the third quarter. Tobam now owns 7,701 shares of the business services provider’s stock valued at $125,000 after acquiring an additional 4,880 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Marathon Digital by 108.0% in the second quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock worth $136,000 after purchasing an additional 3,565 shares during the period. Institutional investors and hedge funds own 44.53% of the company’s stock.

About Marathon Digital

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.