MARA (NASDAQ:MARA) Trading Down 0.3% – Here’s What Happened

MARA Holdings, Inc. (NASDAQ:MARA) shares were down 0.3% during mid-day trading on Wednesday . The company traded as low as $18.05 and last traded at $18.21. Approximately 7,553,118 shares traded hands during trading, a decline of 81% from the average daily volume of 38,965,422 shares. The stock had previously closed at $18.26.

Analyst Upgrades and Downgrades

MARA has been the topic of a number of recent analyst reports. Barclays began coverage on MARA in a research note on Monday, November 25th. They issued an “equal weight” rating and a $27.00 target price on the stock. Piper Sandler initiated coverage on shares of MARA in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $34.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of MARA in a research note on Wednesday, December 4th. Macquarie raised their price objective on MARA from $22.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Finally, Cantor Fitzgerald started coverage on MARA in a research report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.67.

MARA Price Performance

The firm has a market capitalization of $6.25 billion, a P/E ratio of 23.40 and a beta of 5.76. 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’s fifty day simple moving average is $21.30 and its 200 day simple moving average is $19.08.

MARA (NASDAQ:MARA) last issued its quarterly earnings results 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 business had revenue of $131.60 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) earnings per share. On average, equities research analysts predict that MARA Holdings, Inc. will post -1.04 EPS for the current year.

Insider Buying and Selling at MARA

In related news, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $19.80, for a total transaction of $544,599.00. Following the completion of the sale, the chief executive officer now owns 4,155,595 shares of the company’s stock, valued at $82,280,781. The trade was a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $23.50, for a total transaction of $392,450.00. Following the transaction, the chief financial officer now directly owns 1,836,129 shares of the company’s stock, valued at $43,149,031.50. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 136,915 shares of company stock worth $2,980,694. 0.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MARA

Hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. purchased a new stake in shares of MARA in the second quarter worth about $201,000. Xponance Inc. boosted its position in MARA by 27.6% in the 2nd quarter. Xponance Inc. now owns 17,466 shares of the business services provider’s stock worth $347,000 after purchasing an additional 3,778 shares in the last quarter. Millennium Management LLC grew its stake in shares of MARA by 12.7% during the 2nd quarter. Millennium Management LLC now owns 1,333,856 shares of the business services provider’s stock worth $26,477,000 after purchasing an additional 149,805 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of MARA by 27.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 164,561 shares of the business services provider’s stock valued at $3,267,000 after purchasing an additional 35,802 shares in the last quarter. Finally, Algert Global LLC lifted its stake in shares of MARA by 56.5% in the 2nd quarter. Algert Global LLC now owns 47,999 shares of the business services provider’s stock valued at $953,000 after purchasing an additional 17,319 shares during the period. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.