MARA’s (MARA) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of MARA (NASDAQ:MARA) in a research report released on Wednesday,Benzinga reports. The firm currently has a $28.00 price target on the business services provider’s stock.

A number of other analysts have also recently issued reports on the stock. Macquarie assumed coverage on shares of MARA in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price objective for the company. Cantor Fitzgerald initiated coverage on shares of MARA in a report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their price target on shares of MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, MARA presently has a consensus rating of “Hold” and an average target price of $21.57.

MARA Stock Performance

MARA stock opened at $22.18 on Wednesday. The company has a market cap of $6.53 billion, a P/E ratio of 27.47 and a beta of 5.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75. MARA has a 1 year low of $9.16 and a 1 year high of $34.09. The stock’s fifty day moving average price is $17.09 and its 200-day moving average price is $18.54.

Insider Buying and Selling at MARA

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction on Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the transaction, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $481,337.50. Following the completion of the sale, the chief executive officer now directly owns 4,250,804 shares of the company’s stock, valued at approximately $74,389,070. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were 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 of the company’s stock, valued at $33,022,547.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 91,417 shares of company stock worth $1,524,546 over the last ninety days. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On MARA

Large investors have recently modified their holdings of the business. Swiss National Bank raised its stake in shares of MARA by 5.4% in the first quarter. Swiss National Bank now owns 439,600 shares of the business services provider’s stock worth $9,926,000 after purchasing an additional 22,600 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of MARA by 13.3% in the first quarter. ProShare Advisors LLC now owns 41,626 shares of the business services provider’s stock worth $940,000 after buying an additional 4,873 shares during the last quarter. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 441,455 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in MARA by 4.1% in the first quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock valued at $505,000 after acquiring an additional 881 shares during the period. Finally, American International Group Inc. grew its stake in shares of MARA by 4.3% during the 1st quarter. American International Group Inc. now owns 110,489 shares of the business services provider’s stock worth $2,495,000 after purchasing an additional 4,593 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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.