Stock Traders Purchase Large Volume of Call Options on Marathon Digital (NASDAQ:MARA)

by · The Markets Daily

Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Free Report) was the recipient of some unusual options trading activity on Friday. Investors acquired 326,955 call options on the stock. This represents an increase of approximately 44% compared to the average volume of 226,691 call options.

Analyst Ratings Changes

MARA has been the topic of a number of research analyst reports. BTIG Research restated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research note on Monday, June 1st. Weiss Ratings downgraded Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Morgan Stanley cut their price objective on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 19th. Finally, Rosenblatt Securities upped 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. Eight 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.com, Marathon Digital currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Read Our Latest Research Report on MARA

Marathon Digital Stock Performance

Shares of NASDAQ:MARA traded up $0.65 during midday trading on Friday, reaching $14.53. 55,284,950 shares of the company traded hands, compared to its average volume of 45,509,383. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. Marathon Digital has a 12 month low of $6.66 and a 12 month high of $23.45. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of -2.54 and a beta of 5.38. The firm’s fifty day moving average price is $13.07 and its two-hundred day moving average price is $10.67.

Insider Activity at Marathon Digital

In other news, Director Douglas K. Mellinger sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $16.00, for a total transaction of $112,000.00. Following the transaction, the director directly owned 231,618 shares of the company’s stock, valued at $3,705,888. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 on Monday, May 18th. The shares were sold at an average price of $12.00, for a total transaction of $192,000.00. Following the completion of the transaction, the chief financial officer directly owned 425,066 shares in the company, valued at $5,100,792. This trade represents a 3.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 194,855 shares of company stock worth $2,465,975 over the last quarter. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. United Capital Management of KS Inc. raised its holdings in shares of 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 valued at $731,000 after acquiring an additional 937 shares in the last quarter. CI Investments Inc. raised its holdings in Marathon Digital by 7.6% in the 1st quarter. CI Investments Inc. now owns 13,520 shares of the business services provider’s stock worth $110,000 after purchasing an additional 957 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Marathon Digital by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after purchasing an additional 991 shares during the period. Evexia Wealth LLC boosted its stake in shares of Marathon Digital by 9.2% during the 1st quarter. Evexia Wealth LLC now owns 12,937 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 1,090 shares in the last quarter. Finally, Sigma Planning Corp boosted its stake in shares of Marathon Digital by 12.4% during the 4th quarter. Sigma Planning Corp now owns 11,924 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 1,320 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors.

About Marathon Digital

(Get Free Report)

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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