MARA (NASDAQ:MARA) Shares Down 3.2% – Here’s Why

MARA Holdings, Inc. (NASDAQ:MARA)’s share price was down 3.2% during mid-day trading on Friday . The stock traded as low as $20.01 and last traded at $20.13. Approximately 15,279,540 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 53,957,215 shares. The stock had previously closed at $20.79.

Wall Street Analyst Weigh In

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

MARA Stock Performance

The company has a quick ratio of 3.75, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average price of $17.38 and a 200 day moving average price of $18.60. The stock has a market cap of $6.78 billion, a PE ratio of 26.67 and a beta of 5.52.

MARA (NASDAQ:MARA) last posted its quarterly earnings results on Tuesday, November 12th. The business services provider reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.04). MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The business had revenue of $131.60 million during the quarter, compared to the consensus estimate of $140.26 million. During the same quarter in the prior year, the firm posted ($0.05) EPS. The company’s revenue for the quarter was up 34.4% compared to the same quarter last year. As a group, research analysts forecast that MARA Holdings, Inc. will post -1.05 earnings per share for the current year.

Insiders Place Their Bets

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $292,250.00. Following the completion of the transaction, the chief financial officer now directly owns 2,077,232 shares in the company, valued at approximately $36,351,560. The trade was a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s 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 owns 4,250,804 shares in the company, valued at $74,389,070. This represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,417 shares of company stock worth $1,524,546 over the last 90 days. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On MARA

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC increased its position in shares of MARA by 27.7% during the third quarter. Private Advisor Group LLC now owns 226,199 shares of the business services provider’s stock worth $3,669,000 after purchasing an additional 49,062 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in MARA in the third quarter valued at about $640,000. Rhumbline Advisers boosted its holdings in MARA by 126.5% in the second quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock worth $15,615,000 after acquiring an additional 439,309 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of MARA during the second quarter worth about $4,498,000. Finally, Public Sector Pension Investment Board purchased a new stake in shares of MARA during the second quarter worth about $11,920,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

MARA Company Profile

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.