Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) was the recipient of unusually large options trading activity on Friday. Stock traders acquired 466,397 call options on the stock. This represents an increase of approximately 59% compared to the typical daily volume of 293,336 call options.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Piper Sandler dropped their target price on shares of Marathon Digital from $30.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Barclays lifted their target price on shares of Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. HC Wainwright reiterated a "buy" rating and set a $28.00 target price on shares of Marathon Digital in a research report on Thursday, April 24th. Rosenblatt Securities lifted their price target on shares of Marathon Digital from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, Compass Point reissued a "sell" rating and set a $9.50 price target (down from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $20.94.
Check Out Our Latest Stock Report on MARA
Insiders Place Their Bets
In related news, Director Douglas K. Mellinger sold 3,000 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $16.00, for a total transaction of $48,000.00. Following the completion of the transaction, the director owned 176,859 shares in the company, valued at approximately $2,829,744. This represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Salman Hassan Khan sold 34,733 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $15.85, for a total transaction of $550,518.05. Following the transaction, the chief financial officer owned 1,413,298 shares of the company's stock, valued at approximately $22,400,773.30. The trade was a 2.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 234,585 shares of company stock worth $3,733,694. Insiders own 0.80% of the company's stock.
Institutional Trading of Marathon Digital
Large investors have recently made changes to their positions in the stock. United Services Automobile Association raised its holdings in shares of Marathon Digital by 3.4% in the fourth quarter. United Services Automobile Association now owns 19,065 shares of the business services provider's stock valued at $320,000 after acquiring an additional 635 shares in the last quarter. Fifth Third Bancorp increased its holdings in Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock worth $29,000 after buying an additional 683 shares during the period. CX Institutional boosted its position in Marathon Digital by 12.6% in the 2nd quarter. CX Institutional now owns 6,698 shares of the business services provider's stock worth $105,000 after purchasing an additional 749 shares in the last quarter. Ranch Capital Advisors Inc. boosted its position in Marathon Digital by 5.8% in the 1st quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider's stock worth $168,000 after purchasing an additional 805 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in Marathon Digital by 5.1% in the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock worth $304,000 after purchasing an additional 878 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.
Marathon Digital Stock Performance
NASDAQ MARA traded down $0.44 on Friday, reaching $19.53. 26,670,195 shares of the stock were exchanged, compared to its average volume of 44,955,424. Marathon Digital has a one year low of $9.81 and a one year high of $30.28. The firm has a market capitalization of $6.87 billion, a PE ratio of -13.47 and a beta of 6.53. The company's 50-day simple moving average is $16.12 and its two-hundred day simple moving average is $15.40. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62.
Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.06). Marathon Digital had a negative net margin of 46.68% and a positive return on equity of 6.33%. The company had revenue of $213.88 million for the quarter, compared to analysts' expectations of $234.19 million. During the same period last year, the business earned $1.26 earnings per share. The company's quarterly revenue was up 29.5% compared to the same quarter last year. Analysts expect that Marathon Digital will post -1.04 EPS for the current fiscal year.
About Marathon Digital
(
Get Free Report)
MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.
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