MARA (NASDAQ:MARA) Stock Price Up 6.7% After Analyst Upgrade

MARA Holdings, Inc. (NASDAQ:MARA) was up 6.7% on Tuesday after Macquarie raised their price target on the stock from $22.00 to $29.00. Macquarie currently has an outperform rating on the stock. MARA traded as high as $19.41 and last traded at $19.31. Approximately 33,312,270 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 54,292,930 shares. The stock had previously closed at $18.10.

MARA has been the topic of several other reports. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of MARA in a report on Wednesday, November 13th. Needham & Company LLC reissued a “hold” rating on shares of MARA in a research note on Wednesday, November 13th. JPMorgan Chase & Co. reduced their price target on shares of MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. Finally, Cantor Fitzgerald assumed coverage on MARA in a research report on Thursday, October 10th. They set an “overweight” rating and a $21.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, MARA has an average rating of “Hold” and a consensus target price of $22.57.

Insider Activity

In other news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $292,250.00. Following the sale, the chief financial officer now directly owns 2,077,232 shares of the company’s stock, valued at approximately $36,351,560. This represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Frederick G. Thiel sold 27,512 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 directly owns 4,278,309 shares in the company, valued at $67,169,451.30. This trade represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,417 shares of company stock valued at $1,524,546. 0.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MARA

Hedge funds have recently added to or reduced their stakes in the stock. Beaird Harris Wealth Management LLC grew its stake in shares of MARA by 121.1% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 695 shares during the period. Financial Advocates Investment Management grew its position in MARA by 5.2% during the third quarter. Financial Advocates Investment Management now owns 14,201 shares of the business services provider’s stock valued at $230,000 after buying an additional 700 shares during the period. Ranch Capital Advisors Inc. grew its position in MARA by 6.1% during the second quarter. Ranch Capital Advisors Inc. now owns 13,532 shares of the business services provider’s stock valued at $269,000 after buying an additional 780 shares during the period. Ameritas Investment Partners Inc. increased its holdings in MARA by 4.1% during the first quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock valued at $505,000 after buying an additional 881 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in MARA by 124.2% in the third quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,062 shares during the period. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

MARA Stock Up 6.5 %

The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22. The firm has a market cap of $6.20 billion, a PE ratio of 24.44 and a beta of 5.52. The company’s 50 day moving average price is $17.38 and its two-hundred day moving average price is $18.61.

MARA (NASDAQ:MARA) last posted its quarterly earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). The firm had revenue of $131.60 million during the quarter, compared to the consensus estimate of $140.26 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The business’s revenue for the quarter was up 34.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) earnings per share. On average, equities research analysts expect that MARA Holdings, Inc. will post -0.72 EPS for the current fiscal year.

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.