Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Free Report) shares were up 3% during trading on Thursday . The company traded as high as $13.77 and last traded at $13.55. Approximately 34,649,800 shares were traded during trading, a decline of 26% from the average daily volume of 46,511,422 shares. The stock had previously closed at $13.15.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on MARA shares. 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. Rosenblatt Securities raised their target price on Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Morgan Stanley cut their target price on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a research report on Tuesday. Finally, Cantor Fitzgerald cut their price objective on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.38.
Check Out Our Latest Stock Report on Marathon Digital
Marathon Digital Stock Up 3.0%
Marathon Digital (NASDAQ:MARA – Get Free Report) last posted its earnings results 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). Marathon Digital had a negative net margin of 234.83% and a negative return on equity of 23.20%. The firm had revenue of $202.31 million during the quarter, compared to the consensus estimate of $250.74 million. During the same quarter last year, the firm posted $1.24 EPS. The business’s revenue was down 5.6% on a year-over-year basis. As a group, equities research analysts predict that Marathon Digital Holdings, Inc. will post -1.67 earnings per share for the current year.
Insider Buying and Selling
In other news, CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $11.68, for a total transaction of $186,880.00. Following the completion of the sale, the chief financial officer owned 441,066 shares in the company, valued at $5,151,650.88. The trade was a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 on Tuesday, March 17th. The stock was sold at an average price of $9.18, for a total value of $252,495.90. Following the sale, the chief executive officer owned 4,788,954 shares of the company’s stock, valued at approximately $43,962,597.72. The trade was a 0.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 180,855 shares of company stock worth $2,033,654 in the last quarter. Insiders own 0.80% of the company’s stock.
Institutional Trading of Marathon Digital
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Marathon Digital by 9.8% in the 3rd quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock valued at $827,392,000 after acquiring an additional 4,049,979 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Marathon Digital in the third quarter valued at approximately $4,643,000. Farallon Capital Management LLC increased its stake in Marathon Digital by 338.3% in the third quarter. Farallon Capital Management LLC now owns 3,660,000 shares of the business services provider’s stock valued at $66,832,000 after purchasing an additional 2,825,000 shares in the last quarter. Stevens Capital Management LP increased its stake in Marathon Digital by 446.6% in the third quarter. Stevens Capital Management LP now owns 319,549 shares of the business services provider’s stock valued at $5,835,000 after purchasing an additional 261,085 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its stake in Marathon Digital by 20.4% in the third quarter. Public Sector Pension Investment Board now owns 1,445,051 shares of the business services provider’s stock valued at $26,387,000 after purchasing an additional 245,222 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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