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

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $12.00, for a total value of $192,000.00. Following the transaction, the chief financial officer directly owned 425,066 shares of the company’s stock, valued at $5,100,792. This trade represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, April 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The stock was sold at an average price of $11.68, for a total value of $186,880.00.
• On Tuesday, March 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The shares were sold at an average price of $9.18, for a total value of $146,880.00.

Marathon Digital Stock Up 5.7%

Shares of MARA traded up $0.71 during mid-day trading on Wednesday, reaching $13.15. The company’s stock had a trading volume of 51,364,307 shares, compared to its average volume of 44,521,300. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. The company has a market cap of $5.01 billion, a price-to-earnings ratio of -2.30 and a beta of 5.41. Marathon Digital Holdings, Inc. has a 1 year low of $6.66 and a 1 year high of $23.45. The business has a fifty day moving average of $10.42 and a 200 day moving average of $10.52.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Thursday, February 26th. The business services provider reported ($4.52) EPS for the quarter, missing the consensus estimate of ($0.23) by ($4.29). Marathon Digital had a negative return on equity of 23.20% and a negative net margin of 234.83%.The business had revenue of $202.31 million for the quarter, compared to analyst estimates of $250.74 million. During the same period in the previous year, the company earned $1.24 earnings per share. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, analysts forecast that Marathon Digital Holdings, Inc. will post -1.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management raised its holdings in Marathon Digital by 2,407.4% in the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 1,300 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Marathon Digital by 56.8% in the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 659 shares during the period. Danske Bank A S acquired a new stake in Marathon Digital in the third quarter valued at $55,000. Ascentis Independent Advisors purchased a new stake in shares of Marathon Digital in the first quarter valued at $28,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Marathon Digital during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MARA shares. Cantor Fitzgerald lowered their price target on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Weiss Ratings cut shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Morgan Stanley decreased 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. Rosenblatt Securities raised their price objective on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.38.

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.