MARA (NASDAQ:MARA) Stock Price Up 3.7% – What’s Next?

MARA Holdings (NASDAQ:MARA)’s stock price rose 3.7% during trading on Wednesday. The stock traded as high as $7.37 and last traded at $7.35. 40,640,879 shares traded hands during trading, a decline of 10% from the average session volume of 45,156,219 shares. The stock had previously closed at $7.09.

Analyst Ratings Changes

Several research firms have recently commented on MARA. Cantor Fitzgerald lowered their price target on shares of MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. HC Wainwright initiated coverage on shares of MARA in a report on Friday, September 11th. They set a “buy” rating and a $20.00 price objective on the stock. Piper Sandler reiterated an “overweight” rating and issued a $11.00 target price (down from $13.00) on shares of MARA in a report on Tuesday, October 20th. JPMorgan Chase & Co. downgraded shares of MARA from an “overweight” rating to an “underweight” rating and decreased their price objective for the stock from $13.00 to $11.00 in a research note on Monday, September 14th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 target price on shares of MARA in a research note on Friday, August 7th. Seven analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, MARA currently has an average rating of “Hold” and a consensus price target of $17.78.

MARA Trading Down 5.4%

The firm has a market cap of $2.62 billion, a P/E ratio of -0.74 and a beta of 5.33. 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 fifty day moving average of $10.46 and a 200-day moving average of $10.81.

MARA (NASDAQ:MARA) last posted its earnings results on Thursday, August 6th. The business services provider reported ($1.60) EPS for the quarter, missing the consensus estimate of $0.17 by ($1.77). MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The business had revenue of $174.88 million during the quarter, compared to analyst estimates of $209.44 million. During the same quarter in the prior year, the business earned $1.84 earnings per share. The firm’s revenue was down 26.7% compared to the same quarter last year. Equities research analysts forecast that MARA Holdings will post -1.65 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel Zabi Nowaid sold 8,376 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was 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 of the company’s stock, valued at $10,785,360. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick Thiel sold 27,505 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $11.22, for a total value of $308,606.10. Following the completion of the transaction, the chief executive officer directly owned 4,217,586 shares in the company, valued at $47,321,314.92. This represents a 0.65% decrease in their position. 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 106,891 shares of company stock worth $1,124,731 over the last ninety days. Company insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On MARA

A number of hedge funds have recently added to or reduced their stakes in the company. Ascentis Independent Advisors bought a new position in MARA during the 1st quarter valued at about $28,000. Bogart Wealth LLC increased its stake 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 buying an additional 3,954 shares during the period. IFP Advisors Inc raised its holdings in MARA by 1,154.9% during the 2nd quarter. IFP Advisors Inc now owns 2,422 shares of the business services provider’s stock worth $34,000 after purchasing an additional 2,229 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of MARA during the third quarter worth approximately $37,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of MARA by 58.2% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 4,009 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 1,475 shares during the period. Institutional investors and hedge funds own 44.53% of the company’s stock.

About MARA

MARA Holdings, Inc (NASDAQ: MARA), formerly known as Marathon Digital Holdings, is a digital asset mining and energy infrastructure company. Its primary business is securing the Bitcoin network by operating specialized computing equipment that validates transactions and earns Bitcoin rewards.

The company develops and operates data centers and digital asset computing infrastructure, while also pursuing strategies to access low-cost and surplus energy. MARA has expanded its operations through a combination of owned facilities, hosting arrangements and acquisitions, with activities spanning North America and other international markets.

The company was founded in 2010 as Marathon Patent Group and later shifted its focus toward cryptocurrency mining before adopting the Marathon Digital name.