Marathon Digital (NASDAQ:MARA) CFO Salman Hassan Khan Sells 16,000 Shares

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 16,000 shares of Marathon Digital stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $9.18, for a total value of $146,880.00. Following the completion of the sale, the chief financial officer owned 343,165 shares of the company’s stock, valued at $3,150,254.70. The trade was a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Salman Hassan Khan also recently made the following trade(s):

• On Tuesday, February 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The shares were sold at an average price of $7.66, for a total transaction of $122,560.00.

Marathon Digital Stock Up 3.4%

Shares of NASDAQ:MARA traded up $0.30 during trading hours on Thursday, hitting $9.22. The company’s stock had a trading volume of 42,740,789 shares, compared to its average volume of 49,132,160. The firm’s fifty day moving average price is $9.07 and its 200 day moving average price is $12.83. Marathon Digital Holdings, Inc. has a 52 week low of $6.66 and a 52 week high of $23.45. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -2.33 and a beta of 5.51. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.27 and a quick ratio of 1.27.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Thursday, February 26th. The business services provider reported ($4.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($4.29). The business had revenue of $202.31 million for the quarter, compared to the consensus estimate of $250.74 million. Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. Marathon Digital’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.24 earnings per share. As a group, research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Hedge Funds Weigh In On Marathon Digital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Marathon Digital by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock worth $419,422,000 after acquiring an additional 1,394,559 shares during the period. State Street Corp boosted its position in Marathon Digital by 1.4% in the second quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock valued at $210,977,000 after buying an additional 191,380 shares during the last quarter. UBS Group AG increased its holdings in Marathon Digital by 104.1% in the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after buying an additional 6,172,110 shares during the period. Marex Group plc increased its holdings in Marathon Digital by 2.6% in the 4th quarter. Marex Group plc now owns 10,137,713 shares of the business services provider’s stock worth $91,037,000 after buying an additional 259,210 shares during the period. Finally, Geode Capital Management LLC raised its position in Marathon Digital by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock worth $89,434,000 after buying an additional 251,674 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald dropped their price objective on Marathon Digital from $21.00 to $11.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Compass Point raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Monday, November 24th. JPMorgan Chase & Co. decreased their price objective on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Morgan Stanley started coverage on Marathon Digital in a research note on Monday, February 9th. They set an “underweight” rating and a $8.00 target price on the stock. Finally, HC Wainwright reissued a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.00.

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.