MARA (NASDAQ:MARA) Stock Price Down 10.1% – Should You Sell?

MARA Holdings (NASDAQ:MARA)’s share price traded down 10.1% during mid-day trading on Friday . The company traded as low as $10.56 and last traded at $10.67. 41,704,857 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 46,434,316 shares. The stock had previously closed at $11.87.

Analyst Upgrades and Downgrades

MARA has been the subject of several research analyst reports. Citizens Jmp initiated 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 for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price target on shares of MARA in a report on Friday, August 7th. Weiss Ratings raised shares of MARA from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Piper Sandler dropped their price objective on MARA from $16.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Finally, Cantor Fitzgerald cut their target price on MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.78.

MARA Stock Down 10.1%

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 firm has a market cap of $4.12 billion, a PE ratio of -1.16 and a beta of 5.40. The stock has a fifty day moving average price of $11.75 and a 200-day moving average price of $11.10.

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

Insider Buying and Selling at MARA

In related news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $9.21, for a total transaction of $253,321.05. Following the completion of the sale, the chief executive officer directly owned 4,335,697 shares of the company’s stock, valued at approximately $39,931,769.37. This represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 8,376 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $12.00, for a total transaction of $100,512.00. Following the sale, the general counsel directly owned 898,780 shares of the company’s stock, valued at approximately $10,785,360. This trade represents a 0.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 109,386 shares of company stock worth $1,332,889 over the last three months. 0.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MARA. UBS Group AG lifted its holdings in MARA by 104.1% in the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after buying an additional 6,172,110 shares in the last quarter. California State Teachers Retirement System increased its position in shares of MARA by 1,266.3% during the second quarter. California State Teachers Retirement System now owns 5,629,700 shares of the business services provider’s stock worth $78,197,000 after acquiring an additional 5,217,648 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in shares of MARA in the third quarter worth about $93,066,000. Norges Bank purchased a new position in MARA in the fourth quarter valued at about $39,492,000. Finally, Van ECK Associates Corp boosted its holdings in MARA by 125.4% in the fourth quarter. Van ECK Associates Corp now owns 2,727,069 shares of the business services provider’s stock valued at $24,489,000 after purchasing an additional 1,516,937 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

MARA Company Profile

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.