Marathon Digital (NASDAQ:MARA) CEO Sells 27,505 Shares

Key Points

• CEO Frederick Thiel sold 27,505 Marathon Digital shares at an average price of $9.21, generating approximately $253,321. The transaction occurred under a pre-arranged Rule 10b5-1 trading plan and reduced his direct stake by 0.63%.
• Marathon Digital shares rose 7.7% to $9.65, but the company reported a quarterly loss of $1.60 per share and revenue of $174.88 million, missing analyst expectations on both measures.
• Analyst sentiment remains a “Moderate Buy,” with eight Buy, two Hold and two Sell ratings and an average price target of $18.78; institutional investors own 44.53% of the stock.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) CEO Frederick Thiel sold 27,505 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $9.21, for a total transaction of $253,321.05. Following the sale, the chief executive officer directly owned 4,335,697 shares of the company's stock, valued at $39,931,769.37. This trade represents a 0.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marathon Digital Stock Up 7.7%

NASDAQ MARA traded up $0.69 during mid-day trading on Wednesday, reaching $9.65. The stock had a trading volume of 66,733,477 shares, compared to its average volume of 45,716,527. The stock has a market cap of $3.73 billion, a PE ratio of -1.05 and a beta of 5.40. 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 1.15, a current ratio of 0.89 and a quick ratio of 0.89. The company has a fifty day moving average price of $12.21 and a 200 day moving average price of $10.98.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its earnings results on Thursday, August 6th. The business services provider reported ($1.60) EPS for the quarter, missing the consensus estimate of $0.17 by ($1.77). The business had revenue of $174.88 million for the quarter, compared to analysts' expectations of $209.44 million. Marathon Digital had a negative net margin of 429.71% and a negative return on equity of 26.05%. The business's revenue for the quarter was down 26.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.84 earnings per share. On average, research analysts expect that Marathon Digital Holdings, Inc. will post -1.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MARA has been the subject of a number of research analyst reports. Cantor Fitzgerald cut their target price on shares of Marathon Digital from $14.00 to $12.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. Citizens Jmp assumed coverage on Marathon Digital in a research note on Wednesday, June 24th. They issued a "market outperform" rating and a $24.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Marathon Digital in a report on Friday, August 7th. Rosenblatt Securities reiterated a "buy" rating and set a $15.00 price objective on shares of Marathon Digital in a research report on Friday, August 7th. Finally, Piper Sandler lowered their target price on Marathon Digital from $16.00 to $13.00 and set an "overweight" rating on the stock in a report on Friday, July 17th. Eight investment 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. Based on data from MarketBeat.com, Marathon Digital currently has an average rating of "Moderate Buy" and an average price target of $18.78.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MARA. Ascentis Independent Advisors bought a new stake in shares of Marathon Digital during the 1st quarter valued at $28,000. Bogart Wealth LLC lifted its position in 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. purchased a new position in Marathon Digital during the fourth quarter valued at $36,000. Hantz Financial Services Inc. grew its holdings in 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 period. Finally, CoreCap Advisors LLC grew its holdings in Marathon Digital by 128.0% during the second quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider's stock valued at $51,000 after purchasing an additional 2,050 shares during the period. 44.53% of the stock is currently 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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