The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Marathon Digital Holdings Inc. shares valued at $148,533 were purchased by DENUCCIO KEVIN A on May 12. At $9.63 per share, DENUCCIO KEVIN A acquired 15,424 shares. The insider’s holdings grew to 99,999 shares worth approximately $1.34 million following the completion of this transaction.
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Also, OKAMOTO MERRICK D sold 83,333 shares, netting a total of over 3,084,988 in proceeds. Following the sale of shares at $37.02 each, the insider now holds 5,486,480 shares.
As published in their initiating research note from Cowen on June 24, 2022, Marathon Digital Holdings Inc. [MARA] has been a Market perform and the price target has been revised to $7. This represents a -91.71% premium over Thursday’s closing price. Analysts at B. Riley Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late June. As of June 03, 2022, Chardan Capital Markets has initiated its “Buy” rating for MARA. Earlier on January 28, 2022, Jefferies initiated its rating. Their recommendation was “a Buy” for MARA stock.
Analyzing MARA’s Price Performance
On Thursday, Marathon Digital Holdings Inc. [NASDAQ: MARA] rose 1.05% to $13.42. The stock’s lowest price that day was $13.30, but it reached a high of $15.03 in the same session. During the last five days, there has been a surge of approximately 1.67%. Over the course of the year, Marathon Digital Holdings Inc. shares have dropped approximately -59.16%. Shares of the company reached a 52-week high of $35.48 on 01/04/22 and a 52-week low of $5.20 on 07/05/22. A 50-day SMA is recorded $8.98, while a 200-day SMA reached $26.28. Nevertheless, trading volume fell to 26.9 million shares from 23.87 million shares the previous day.
Support And Resistance Levels for Marathon Digital Holdings Inc. (MARA)
According to the 24-hour chart, there is a support level at 12.80, which, if violated, would cause prices to drop to 12.19. In the upper region, resistance lies at 14.53. The next price resistance is at 15.65. RSI (Relative Strength Index) is 62.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.85, which suggests the price will decrease in the coming days. Percent R is at 25.43%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Marathon Digital Holdings Inc. subject to short interest?
Stocks of Marathon Digital Holdings Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.69 million shares to 29.73 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 28.04 million shares. A jump of 5.68% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.03 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.03.
Which companies own the most shares of Marathon Digital Holdings Inc. (MARA)?
According to The Vanguard Group, Inc. filings, the company currently owns 9,099,522 shares, which is about 8.56% of the total MARA shares outstanding. The investor’s shares have appreciated by 15,650 from its previous 13-F filing of 9083872.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $32,054,957. SSgA Funds Management, Inc. acquire a 6.82% interest valued at $11.84 million while Geode Capital Management LLC purchased a 55,248 stake. A total of -1,549,587 shares of Marathon Digital Holdings Inc. were bought by Susquehanna Financial Group LLLP during the quarter, and 262,170 were bought by Toroso Investments LLC. In its current portfolio, Global X Management Co. LLC holds 957,606 shares valued at $5.11 million.
In terms of Marathon Digital Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $20.13 in the next 12 months, up nearly 39.31% from the previous closing price of $13.28. Analysts anticipate Marathon Digital Holdings Inc. stock to reach $35.00 by 2022, with the lowest price target being $7.00. In spite of this, 8 analysts ranked Marathon Digital Holdings Inc. stock as an Overweight at the end of 2022. On January 18, 2022, BTIG Research assigned a price target of “a Buy” to the stock and initiated coverage with a $50.