MARA (NASDAQ:MARA) Trading Up 2.4% – Here’s What Happened

MARA Holdings, Inc. (NASDAQ:MARA)’s stock price rose 2.4% during mid-day trading on Tuesday . The company traded as high as $18.13 and last traded at $17.61. Approximately 13,438,223 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 33,374,633 shares. The stock had previously closed at $17.19.

Analyst Upgrades and Downgrades

MARA has been the topic of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective on shares of MARA in a research note on Wednesday, December 4th. B. Riley raised their price target on shares of MARA from $21.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Barclays initiated coverage on shares of MARA in a research report on Monday, November 25th. They issued an “equal weight” rating and a $27.00 price objective for the company. Piper Sandler assumed coverage on MARA in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $34.00 price target for the company. Finally, Macquarie increased their price target on MARA from $22.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.80.

MARA Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00. The stock has a 50 day simple moving average of $21.63 and a two-hundred day simple moving average of $19.16. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 23.16 and a beta of 5.76.

MARA (NASDAQ:MARA) last announced its quarterly earnings data on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share (EPS) 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 analysts’ expectations of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The company’s revenue for the quarter was up 34.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) EPS. On average, equities research analysts predict that MARA Holdings, Inc. will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at MARA

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $23.50, for a total transaction of $392,450.00. Following the completion of the sale, the chief financial officer now directly owns 1,836,129 shares in the company, valued at $43,149,031.50. This trade represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay P. Leupp sold 6,800 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $29.90, for a total transaction of $203,320.00. Following the completion of the sale, the director now directly owns 135,756 shares in the company, valued at $4,059,104.40. This trade represents a 4.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,410 shares of company stock worth $2,485,329 over the last quarter. 0.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MARA

Institutional investors have recently modified their holdings of the company. Private Advisor Group LLC boosted its holdings in MARA by 27.7% during the 3rd quarter. Private Advisor Group LLC now owns 226,199 shares of the business services provider’s stock valued at $3,669,000 after acquiring an additional 49,062 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of MARA by 8.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,656,363 shares of the business services provider’s stock valued at $43,086,000 after purchasing an additional 217,106 shares during the period. Mutual of America Capital Management LLC grew its holdings in shares of MARA by 112.4% in the third quarter. Mutual of America Capital Management LLC now owns 203,975 shares of the business services provider’s stock valued at $3,308,000 after purchasing an additional 107,963 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in MARA during the 3rd quarter worth approximately $640,000. Finally, Weiss Asset Management LP acquired a new stake in MARA during the 3rd quarter worth approximately $1,557,000. 44.53% of the stock is owned by institutional investors and hedge funds.

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.