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

MARA Holdings, Inc. (NASDAQ:MARA) shares dropped 2.4% during mid-day trading on Friday . The stock traded as low as $23.11 and last traded at $23.61. Approximately 23,206,234 shares changed hands during trading, a decline of 58% from the average daily volume of 55,202,418 shares. The stock had previously closed at $24.18.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MARA shares. JPMorgan Chase & Co. reduced their price target on MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Cantor Fitzgerald started coverage on MARA in a report on Thursday, October 10th. They set an “overweight” rating and a $21.00 target price for the company. Macquarie lifted their price objective on shares of MARA from $22.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday. Needham & Company LLC reissued a “hold” rating on shares of MARA in a research report on Wednesday, November 13th. Finally, HC Wainwright restated a “buy” rating and issued a $28.00 target price on shares of MARA in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.88.

MARA Stock Performance

The stock has a fifty day simple moving average of $17.83 and a two-hundred day simple moving average of $18.70. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of 33.00 and a beta of 5.52.

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

Insider Transactions at MARA

In other news, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $481,337.50. Following the sale, the chief executive officer now owns 4,250,804 shares in the company, valued at $74,389,070. This trade represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the company’s 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 sale, the chief financial officer now directly owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. The trade was a 0.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 135,622 shares of company stock worth $2,399,805. 0.97% of the stock is currently owned by corporate insiders.

Institutional Trading of MARA

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of MARA by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock valued at $540,002,000 after acquiring an additional 441,455 shares during the period. Geode Capital Management LLC boosted its position in shares of MARA by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 7,157,491 shares of the business services provider’s stock valued at $116,115,000 after acquiring an additional 378,542 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in MARA by 261.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock worth $64,249,000 after purchasing an additional 2,340,472 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of MARA by 8.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,656,363 shares of the business services provider’s stock worth $43,086,000 after buying an additional 217,106 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in MARA by 186.6% in the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock valued at $40,485,000 after purchasing an additional 1,327,969 shares in the last quarter. 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.