Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Free Report) has been given an average rating of “Hold” by the eleven research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $18.3750.
A number of analysts recently commented on MARA shares. Cantor Fitzgerald decreased their target price on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Weiss Ratings lowered Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Rosenblatt Securities boosted their price objective on Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, May 1st. HC Wainwright reissued a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Finally, Morgan Stanley decreased their price objective on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a report on Tuesday, May 19th.
Read Our Latest Research Report on Marathon Digital
Marathon Digital Stock Performance
Insiders Place Their Bets
In other Marathon Digital news, CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $12.00, for a total transaction of $192,000.00. Following the completion of the sale, the chief financial officer directly owned 425,066 shares of the company’s stock, valued at approximately $5,100,792. The trade was a 3.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $12.00, for a total value of $330,060.00. Following the sale, the chief executive officer directly owned 4,589,514 shares of the company’s stock, valued at $55,074,168. This represents a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 180,855 shares of company stock valued at $2,033,654. Corporate insiders own 0.80% of the company’s stock.
Institutional Trading of Marathon Digital
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DV Trading LLC bought a new stake in Marathon Digital during the 1st quarter worth approximately $99,000. Essential Partners LLC increased its holdings in Marathon Digital by 288,266.7% during the 1st quarter. Essential Partners LLC now owns 8,651 shares of the business services provider’s stock worth $71,000 after purchasing an additional 8,648 shares in the last quarter. Western Wealth Management LLC increased its holdings in Marathon Digital by 26.1% during the 1st quarter. Western Wealth Management LLC now owns 27,140 shares of the business services provider’s stock worth $221,000 after purchasing an additional 5,610 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Marathon Digital in the first quarter valued at approximately $2,864,000. Finally, Amundi grew its holdings in shares of Marathon Digital by 124.2% in the first quarter. Amundi now owns 53,425 shares of the business services provider’s stock valued at $436,000 after acquiring an additional 29,595 shares in the last quarter. 44.53% of the stock is owned by institutional investors.
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.
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