MARA (NASDAQ:MARA) Shares Up 2.1% – Still a Buy?

MARA Holdings, Inc. (NASDAQ:MARA) shares shot up 2.1% during trading on Thursday . The company traded as high as $16.69 and last traded at $16.58. 11,287,659 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 34,953,180 shares. The stock had previously closed at $16.24.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MARA. Barclays began 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. Needham & Company LLC restated a “hold” rating on shares of MARA in a research report on Wednesday, November 13th. JPMorgan Chase & Co. upgraded shares of MARA from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $12.00 to $23.00 in a research report on Tuesday, December 10th. Piper Sandler began coverage on MARA in a report on Tuesday, December 17th. They set an “overweight” rating and a $34.00 target price for the company. Finally, B. Riley increased their target price on MARA from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, MARA currently has an average rating of “Hold” and an average price target of $25.67.

MARA Price Performance

The business’s 50 day moving average is $19.49 and its 200-day moving average is $18.65. The firm has a market capitalization of $5.68 billion, a P/E ratio of 21.18 and a beta of 5.76. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22.

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 the consensus estimate of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The business’s revenue was up 34.4% compared to the same quarter last year. During the same period last year, the business earned ($0.05) earnings per share. As a group, sell-side analysts predict that MARA Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Transactions at MARA

In other news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $19.80, for a total transaction of $330,660.00. Following the transaction, the chief financial officer now directly owns 2,029,647 shares of the company’s stock, valued at $40,187,010.60. This represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $19.80, for a total value of $544,599.00. Following the transaction, the chief executive officer now owns 4,155,595 shares of the company’s stock, valued at $82,280,781. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,915 shares of company stock worth $2,956,634. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On MARA

Several hedge funds have recently modified their holdings of the company. Creative Planning boosted its position in MARA by 17.2% in the third quarter. Creative Planning now owns 33,864 shares of the business services provider’s stock worth $549,000 after purchasing an additional 4,974 shares during the last quarter. Vontobel Holding Ltd. grew its position in MARA by 49.3% during the third quarter. Vontobel Holding Ltd. now owns 43,203 shares of the business services provider’s stock valued at $701,000 after buying an additional 14,267 shares during the period. Avaii Wealth Management LLC bought a new position in MARA during the third quarter valued at about $250,000. AlphaMark Advisors LLC grew its position in MARA by 10.3% during the third quarter. AlphaMark Advisors LLC now owns 21,058 shares of the business services provider’s stock valued at $342,000 after buying an additional 1,962 shares during the period. Finally, Everence Capital Management Inc. bought a new position in MARA during the third quarter valued at about $640,000. 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.