Marathon Digital (NASDAQ:MARA) CFO Salman Hassan Khan Sells 16,000 Shares

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $9.21, for a total transaction of $147,360.00. Following the transaction, the chief financial officer owned 377,066 shares in the company, valued at approximately $3,472,777.86. This trade represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Salman Hassan Khan also recently made the following trade(s):

• On Wednesday, June 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The shares were sold at an average price of $14.25, for a total transaction of $228,000.00.

Marathon Digital Stock Performance

MARA stock traded up $0.69 on Wednesday, hitting $9.65. The company’s 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 price-to-earnings ratio of -1.05 and a beta of 5.40. The firm has a 50 day moving average of $12.21 and a two-hundred day moving average of $10.98. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15. Marathon Digital Holdings, Inc. has a 1 year low of $6.66 and a 1 year high of $23.45.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) earnings per share (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 return on equity of 26.05% and a negative net margin of 429.71%.The company’s revenue for the quarter was down 26.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.84 earnings per share. Equities analysts predict that Marathon Digital Holdings, Inc. will post -1.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MARA has been the topic of several recent research reports. BTIG Research restated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research report on Monday, June 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Marathon Digital in a research report on Friday, August 7th. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 target price on shares of Marathon Digital in a report on Friday, August 7th. Piper Sandler cut their price target on Marathon Digital from $16.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Finally, Cantor Fitzgerald lowered their price objective on shares of Marathon Digital from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.78.

Hedge Funds Weigh In On Marathon Digital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. raised its stake in shares of Marathon Digital by 24.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 50,275 shares of the business services provider’s stock worth $698,000 after buying an additional 9,873 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Marathon Digital by 20.0% in the 2nd quarter. GAMMA Investing LLC now owns 25,506 shares of the business services provider’s stock valued at $354,000 after buying an additional 4,246 shares during the period. Moody National Bank Trust Division purchased a new stake in shares of Marathon Digital in the second quarter valued at approximately $1,858,000. 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 worth $51,000 after acquiring an additional 2,050 shares during the period. Finally, Versant Capital Management Inc grew its holdings in Marathon Digital by 257.3% during the second quarter. Versant Capital Management Inc now owns 4,966 shares of the business services provider’s stock worth $69,000 after acquiring an additional 3,576 shares during the period. Institutional investors and hedge funds own 44.53% of the company’s stock.

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.