MARA (NASDAQ:MARA) Stock Price Down 2.4% – What’s Next?

MARA Holdings, Inc. (NASDAQ:MARA) shares dropped 2.4% during mid-day trading on Tuesday . The stock traded as low as $23.46 and last traded at $24.41. Approximately 34,890,156 shares traded hands during trading, a decline of 35% from the average daily volume of 53,723,758 shares. The stock had previously closed at $25.01.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MARA. Needham & Company LLC reaffirmed a “hold” rating on shares of MARA in a report on Wednesday. JPMorgan Chase & Co. dropped their price target on MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of MARA in a research report on Wednesday. Macquarie initiated coverage on shares of MARA in a research report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 target price for the company. Finally, Cantor Fitzgerald began coverage on shares of MARA in a research report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, MARA has a consensus rating of “Hold” and a consensus target price of $21.57.

MARA Price Performance

The stock has a 50 day simple moving average of $17.23 and a 200-day simple moving average of $18.56. The firm has a market cap of $6.12 billion, a PE ratio of 26.32 and a beta of 5.52. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13.

Insider Activity at MARA

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the sale, the chief financial officer now directly owns 2,103,347 shares in the company, valued at $33,022,547.90. This represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Frederick G. Thiel sold 27,512 shares of MARA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the transaction, the chief executive officer now owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. This trade represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,417 shares of company stock valued at $1,524,546. 0.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in MARA by 261.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after purchasing an additional 2,340,472 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of MARA by 186.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock worth $40,485,000 after acquiring an additional 1,327,969 shares during the last quarter. Principal Financial Group Inc. grew its position in MARA by 4,394.8% in the 2nd quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock valued at $26,892,000 after acquiring an additional 1,324,625 shares during the last quarter. Public Sector Pension Investment Board purchased a new stake in MARA in the second quarter worth $11,920,000. Finally, Vanguard Group Inc. lifted its position in shares of MARA by 1.9% during the first quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock worth $540,002,000 after purchasing an additional 441,455 shares during the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

About MARA

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.