Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) Director Douglas K. Mellinger sold 1,000 shares of the company's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $16.77, for a total transaction of $16,770.00. Following the sale, the director now directly owns 140,756 shares of the company's stock, valued at approximately $2,360,478.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Marathon Digital Stock Up 6.9 %
Shares of NASDAQ:MARA opened at $18.08 on Thursday. The business has a fifty day simple moving average of $16.11 and a 200 day simple moving average of $18.38. Marathon Digital Holdings, Inc. has a 12-month low of $7.63 and a 12-month high of $34.09. The firm has a market cap of $5.11 billion, a P/E ratio of 8.41 and a beta of 5.50. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13.
Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its earnings results on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing the consensus estimate 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 company had revenue of $145.14 million during the quarter, compared to the consensus estimate of $157.86 million. During the same quarter in the previous year, the company earned ($0.13) earnings per share. The business's revenue was up 77.5% on a year-over-year basis. Analysts predict that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current year.
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MARA has been the subject of several research analyst reports. Cantor Fitzgerald started coverage on shares of Marathon Digital in a research report on Thursday, October 10th. They set an "overweight" rating and a $21.00 price objective for the company. B. Riley raised their price target on shares of Marathon Digital from $18.00 to $20.00 and gave the company a "neutral" rating in a research note on Friday, July 12th. Macquarie began coverage on shares of Marathon Digital in a research note on Tuesday, September 24th. They issued an "outperform" rating and a $22.00 price objective for the company. HC Wainwright reissued a "buy" rating and set a $27.00 price objective on shares of Marathon Digital in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their price target 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Marathon Digital currently has an average rating of "Hold" and an average price target of $19.79.
Get Our Latest Analysis on Marathon Digital
Institutional Trading of Marathon Digital
A number of large investors have recently bought and sold shares of the business. AlphaMark Advisors LLC increased its holdings in Marathon Digital by 10.3% in the third quarter. AlphaMark Advisors LLC now owns 21,058 shares of the business services provider's stock worth $342,000 after purchasing an additional 1,962 shares in the last quarter. Avaii Wealth Management LLC acquired a new stake in shares of Marathon Digital during the 3rd quarter worth approximately $250,000. Vontobel Holding Ltd. increased its stake in shares of Marathon Digital by 49.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 43,203 shares of the business services provider's stock valued at $701,000 after acquiring an additional 14,267 shares in the last quarter. Creative Planning lifted its position in shares of Marathon Digital by 17.2% during the 3rd quarter. Creative Planning now owns 33,864 shares of the business services provider's stock valued at $549,000 after acquiring an additional 4,974 shares during the period. Finally, VitalStone Financial LLC boosted its stake in Marathon Digital by 27.0% during the third quarter. VitalStone Financial LLC now owns 64,276 shares of the business services provider's stock worth $1,043,000 after acquiring an additional 13,670 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.
About Marathon Digital
(
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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.
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