Marathon Digital Sees Unusually Large Options Volume (NASDAQ:MARA)

Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Rating) saw unusually large options trading on Monday. Investors acquired 219,358 call options on the stock. This is an increase of approximately 37% compared to the average volume of 159,764 call options.

Wall Street Analyst Weigh In

Several research firms recently commented on MARA. B. Riley cut their target price on Marathon Digital from $8.00 to $6.00 in a research report on Tuesday. Jefferies Financial Group lowered shares of Marathon Digital from a “buy” rating to a “hold” rating and lowered their target price for the stock from $12.50 to $4.00 in a report on Monday, January 9th. Finally, DA Davidson cut their price target on shares of Marathon Digital from $18.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, January 12th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Marathon Digital has a consensus rating of “Hold” and a consensus price target of $12.89.

Insider Transactions at Marathon Digital

In other news, Director Douglas K. Mellinger bought 10,000 shares of Marathon Digital stock in a transaction that occurred on Wednesday, December 28th. The stock was purchased at an average cost of $3.27 per share, with a total value of $32,700.00. Following the completion of the transaction, the director now directly owns 28,771 shares in the company, valued at $94,081.17. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have bought 25,000 shares of company stock valued at $90,200. 0.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. CI Investments Inc. acquired a new position in shares of Marathon Digital during the second quarter valued at $25,000. Advisor Group Holdings Inc. lifted its position in Marathon Digital by 68.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 7,353 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 2,984 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Marathon Digital by 96.8% in the 2nd quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 2,641 shares during the last quarter. Smith Anglin Financial LLC acquired a new stake in shares of Marathon Digital during the 4th quarter worth approximately $34,000. Finally, Cetera Advisors LLC bought a new stake in shares of Marathon Digital during the fourth quarter worth approximately $36,000. 39.88% of the stock is currently owned by institutional investors.

Marathon Digital Price Performance

Shares of MARA stock opened at $7.13 on Wednesday. The company has a current ratio of 5.27, a quick ratio of 5.27 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $832.86 million, a price-to-earnings ratio of -2.93 and a beta of 5.05. The firm’s 50 day moving average is $6.85 and its 200-day moving average is $8.27. Marathon Digital has a 1 year low of $3.11 and a 1 year high of $32.74.

About Marathon Digital

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Marathon Digital Holdings, Inc is a digital asset technology company, which engages in mining cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets. The company was founded on February 23, 2010 and is headquartered in Las Vegas, NV.

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