Marathon Digital (NASDAQ:MARA) General Counsel Zabi Nowaid Sells 8,250 Shares

Marathon Digital Holdings, Inc. (NASDAQ:MARA) General Counsel Zabi Nowaid sold 8,250 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $12.00, for a total value of $99,000.00. Following the completion of the transaction, the general counsel owned 970,768 shares of the company’s stock, valued at $11,649,216. This represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zabi Nowaid also recently made the following trade(s):

• On Friday, April 17th, Zabi Nowaid sold 42,090 shares of Marathon Digital stock. The shares were sold at an average price of $12.00, for a total value of $505,080.00.

Marathon Digital Price Performance

Shares of MARA opened at $13.15 on Thursday. Marathon Digital Holdings, Inc. has a 1 year low of $6.66 and a 1 year 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. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of -2.30 and a beta of 5.41. The business has a 50-day moving average of $10.42 and a 200-day moving average of $10.52.

Marathon Digital (NASDAQ:MARA) last issued 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). Marathon Digital had a negative return on equity of 23.20% and a negative net margin of 234.83%.The company had revenue of $202.31 million for the quarter, compared to the consensus estimate of $250.74 million. During the same quarter last year, the business earned $1.24 earnings per share. Marathon Digital’s revenue was down 5.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Cantor Fitzgerald cut their price target on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Morgan Stanley cut their price target on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a report on Tuesday. Weiss Ratings cut Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Rosenblatt Securities raised their price objective on Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, HC Wainwright reissued a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.38.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. lifted its holdings in Marathon Digital by 56.8% during the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after acquiring an additional 659 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Marathon Digital by 15.9% during the third quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider’s stock worth $108,000 after acquiring an additional 799 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Marathon Digital by 3.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 29,389 shares of the business services provider’s stock worth $537,000 after acquiring an additional 882 shares during the period. United Capital Management of KS Inc. lifted its holdings in Marathon Digital by 2.4% during the third quarter. United Capital Management of KS Inc. now owns 40,054 shares of the business services provider’s stock worth $731,000 after acquiring an additional 937 shares during the period. Finally, CI Investments Inc. lifted its holdings in Marathon Digital by 7.6% during the first quarter. CI Investments Inc. now owns 13,520 shares of the business services provider’s stock worth $110,000 after acquiring an additional 957 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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.