Marathon Digital (NASDAQ:MARA) Stock Price Up 4.4% – Here’s What Happened

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price was up 4.4% during trading on Monday . The company traded as high as $16.43 and last traded at $14.85. Approximately 66,719,175 shares traded hands during trading, an increase of 47% from the average daily volume of 45,383,512 shares. The stock had previously closed at $14.22.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BTIG Research reissued a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research note 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. Weiss Ratings cut Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Rosenblatt Securities increased 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. Finally, Cantor Fitzgerald reduced their price objective 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. Seven 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. According to MarketBeat.com, Marathon Digital presently has a consensus rating of “Hold” and a consensus target price of $18.38.

Marathon Digital Stock Up 4.4%

The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.99. The firm’s fifty day moving average price is $12.73 and its 200-day moving average price is $10.60. The company has a market cap of $5.66 billion, a price-to-earnings ratio of -2.60 and a beta of 5.38.

Insiders Place Their Bets

In other news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $11.68, for a total transaction of $321,258.40. Following the sale, the chief executive officer owned 4,725,219 shares of the company’s stock, valued at $55,190,557.92. This trade represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Hassan Khan sold 16,000 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $11.68, for a total value of $186,880.00. Following the sale, the chief financial officer directly owned 441,066 shares in the company, valued at approximately $5,151,650.88. This represents a 3.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 137,350 shares of company stock worth $1,634,278. Corporate insiders own 0.97% of the company’s stock.

Institutional Trading of Marathon Digital

A number of large investors have recently bought and sold shares of MARA. United Capital Management of KS Inc. lifted its stake in Marathon Digital by 2.4% in the third quarter. United Capital Management of KS Inc. now owns 40,054 shares of the business services provider’s stock valued at $731,000 after buying an additional 937 shares in the last quarter. CI Investments Inc. increased its position in shares of 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 in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Marathon Digital by 9.8% during the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after acquiring an additional 991 shares during the period. Evexia Wealth LLC raised its holdings in shares of Marathon Digital by 9.2% during the first quarter. Evexia Wealth LLC now owns 12,937 shares of the business services provider’s stock worth $106,000 after acquiring an additional 1,090 shares during the period. Finally, Sigma Planning Corp lifted its position in Marathon Digital by 12.4% in the 4th quarter. Sigma Planning Corp now owns 11,924 shares of the business services provider’s stock valued at $107,000 after acquiring an additional 1,320 shares in the last quarter. 44.53% of the stock is owned by institutional investors.

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.