Insider Selling: Marathon Digital (NASDAQ:MARA) Director Sells 7,000 Shares of Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) Director Douglas Mellinger sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.00, for a total value of $112,000.00. Following the transaction, the director owned 231,618 shares of the company’s stock, valued at approximately $3,705,888. This represents a 2.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marathon Digital Trading Down 5.0%

NASDAQ:MARA traded down $0.74 during trading hours on Wednesday, hitting $13.96. The company had a trading volume of 52,667,742 shares, compared to its average volume of 37,889,640. The company has a market capitalization of $5.32 billion, a PE ratio of -2.44 and a beta of 5.38. The stock has a 50-day moving average price of $13.00 and a 200 day moving average price of $10.65. Marathon Digital Holdings, Inc. has a 52 week low of $6.66 and a 52 week high of $23.45. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Ascentis Independent Advisors bought a new stake in Marathon Digital during the first quarter worth about $28,000. Bogart Wealth LLC increased its stake in shares of Marathon Digital by 4,345.1% during the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 3,954 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Marathon Digital during the fourth quarter valued at approximately $36,000. Hantz Financial Services Inc. lifted its holdings in shares of Marathon Digital by 344.8% during the fourth quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 3,893 shares during the last quarter. Finally, Danske Bank A S lifted its holdings in shares of Marathon Digital by 93.3% during the fourth quarter. Danske Bank A S now owns 5,800 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 2,800 shares during the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Rosenblatt Securities boosted their price target on shares of Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Cantor Fitzgerald cut their price objective on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. BTIG Research reiterated a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a report on Monday, June 1st. Morgan Stanley decreased 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, May 19th. Finally, Citizens Jmp began coverage on Marathon Digital in a research note on Wednesday. They issued a “market outperform” rating and a $24.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

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.