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 $32,700 were purchased by MELLINGER DOUGLAS K on Dec 28. At $3.27 per share, MELLINGER DOUGLAS K acquired 10,000 shares. The insider’s holdings grew to 28,771 shares worth approximately $0.19 million following the completion of this transaction.
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Also, MELLINGER DOUGLAS K purchased 10,000 shares, netting a total of over 38,400 in proceeds. Following the buying of shares at $3.84 each, the insider now holds 18,771 shares.
Before that, Thiel Frederick G had added 5,000 shares to its account. In a trade valued at $19,100, the CEO bought Marathon Digital Holdings Inc. shares for $3.82 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $1.0 million.
As published in a research note from Jefferies on January 09, 2023, Marathon Digital Holdings Inc. [MARA] has been rated down from a Buy to a Hold and the price target has been revised to $4 from $12.50. This represents a -62.75% premium over Wednesday’s closing price. Analysts at BTIG Research downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late September. As of June 24, 2022, Cowen has initiated its “Market perform” rating for MARA. Earlier on June 23, 2022, B. Riley Securities downgraded its rating. Their new recommendation was “a Neutral” for MARA stock which previously was a “a Buy”.
Analyzing MARA Stock Performance
On Wednesday, Marathon Digital Holdings Inc. [NASDAQ: MARA] plunged -8.31% to $6.51. The stock’s lowest price that day was $6.38, but it reached a high of $7.25 in the same session. During the last five days, there has been a drop of approximately -9.46%. Over the course of the year, Marathon Digital Holdings Inc. shares have jumped approximately 90.35%. Shares of the company reached a 52-week high of $9.57 on 01/24/23 and a 52-week low of $3.28 on 01/03/23. A 50-day SMA is recorded $6.21, while a 200-day SMA reached $9.19. Nevertheless, trading volume fell to 25.14 million shares from 25.24 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 6.18, which, if violated, would cause prices to drop to 5.84. In the upper region, resistance lies at 7.05. The next price resistance is at 7.58. RSI (Relative Strength Index) is 46.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.03, which suggests the price will decrease in the coming days. Percent R is at 68.25%, indicating low price movement. Stochastics %K at holding 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 Jan 30, 2023 jumping by 4.34 million shares to 48.22 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 43.88 million shares. A jump of 9.0% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.16 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.16.
Which companies own the most shares of Marathon Digital Holdings Inc. (MARA)?
According to The Vanguard Group, Inc. filings, the company currently owns 10,781,037 shares, which is about 9.23% of the total MARA shares outstanding. The investor’s shares have appreciated by 287,703 from its previous 13-F filing of 10493334.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $55,219,941. Morgan Stanley & Co. LLC acquire a 53.77% interest valued at $21.82 million while SSgA Funds Management, Inc. purchased a 282,050 stake. A total of 225,085 shares of Marathon Digital Holdings Inc. were bought by Geode Capital Management LLC during the quarter, and 1,630,151 were bought by Goldman Sachs & Co. LLC. In its current portfolio, BofA Securities, Inc. holds 1,276,868 shares valued at $9.21 million.