MARA (NASDAQ:MARA) Shares Up 5.8% – Should You Buy?

MARA Holdings (NASDAQ:MARA) shares were up 5.8% during trading on Thursday . The company traded as high as $12.32 and last traded at $11.87. 59,611,183 shares changed hands during trading, an increase of 28% from the average daily volume of 46,460,438 shares. The stock had previously closed at $11.22.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Rosenblatt Securities restated a “buy” rating and set a $15.00 price objective on shares of MARA in a research note on Friday, August 7th. Cantor Fitzgerald lowered their target price on shares of MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. BTIG Research reissued a “buy” rating and set a $27.00 target price on shares of MARA in a research note on Monday, June 1st. Citizens Jmp assumed coverage on shares of MARA in a research report on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 price target on the stock. Finally, Piper Sandler reduced their price target on shares of MARA from $16.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.78.

MARA Stock Up 5.8%

The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a 50 day moving average price of $11.87 and a 200 day moving average price of $11.07. The company has a market cap of $4.59 billion, a P/E ratio of -1.30 and a beta of 5.40.

MARA (NASDAQ:MARA) last announced its earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($1.77). The firm had revenue of $174.88 million for the quarter, compared to the consensus estimate of $209.44 million. MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The company’s quarterly revenue was down 26.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.84 EPS. Research analysts expect that MARA Holdings will post -1.24 earnings per share for the current fiscal year.

Insider Buying and Selling at MARA

In other news, General Counsel Zabi Nowaid sold 8,376 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $12.00, for a total transaction of $100,512.00. Following the completion of the transaction, the general counsel owned 898,780 shares in the company, valued at approximately $10,785,360. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Hassan Khan sold 16,000 shares of MARA stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $9.21, for a total transaction of $147,360.00. Following the completion of the transaction, the chief financial officer directly owned 377,066 shares in the company, valued at $3,472,777.86. This represents a 4.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 109,386 shares of company stock valued at $1,332,889 over the last 90 days. Insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On MARA

Institutional investors and hedge funds have recently modified their holdings of the stock. Ascentis Independent Advisors acquired a new position in shares of MARA in the 1st quarter worth $28,000. Bogart Wealth LLC boosted its position in shares of MARA by 4,345.1% in the 1st quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 3,954 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in shares of MARA in the 4th quarter valued at $36,000. Hantz Financial Services Inc. increased its stake in MARA by 344.8% in the 4th quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock worth $45,000 after purchasing an additional 3,893 shares in the last quarter. Finally, CoreCap Advisors LLC increased its stake in MARA by 128.0% in the 2nd quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider’s stock worth $51,000 after purchasing an additional 2,050 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

About MARA

MARA Holdings, Inc is an energy and digital infrastructure company whose core business is Bitcoin mining. Headquartered in Hallandale Beach, Florida, the company operates large-scale computing infrastructure designed to convert energy into high-value compute workloads.