MARA (NASDAQ:MARA) Trading Down 5% – What’s Next?

MARA Holdings (NASDAQ:MARA)’s share price was down 5% on Tuesday . The company traded as low as $10.15 and last traded at $10.23. Approximately 29,936,191 shares were traded during trading, a decline of 35% from the average daily volume of 46,201,113 shares. The stock had previously closed at $10.77.

Wall Street Analysts Forecast Growth

MARA has been the topic of a number of analyst reports. Cantor Fitzgerald reduced their price objective on shares of MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Citizens Jmp began coverage on shares of MARA in a research note on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 price target for the company. Weiss Ratings raised MARA from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. Morgan Stanley raised their price objective on shares of MARA from $5.50 to $6.00 and gave the company an “underweight” rating in a research report on Thursday, August 13th. Finally, Rosenblatt Securities restated a “buy” rating and set a $15.00 target price on shares of MARA 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 data from MarketBeat.com, MARA has an average rating of “Moderate Buy” and a consensus target price of $18.78.

MARA Stock Up 12.8%

The firm’s 50 day moving average is $11.51 and its 200-day moving average is $11.18. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.15. The firm has a market cap of $4.56 billion, a PE ratio of -1.29 and a beta of 5.32.

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

Insider Buying and Selling

In other news, General Counsel Zabi Nowaid sold 8,376 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $12.00, for a total value of $100,512.00. Following the completion of the sale, the general counsel owned 898,780 shares of the company’s stock, valued at $10,785,360. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total transaction of $391,946.25. Following the completion of the transaction, the chief executive officer owned 4,562,009 shares of the company’s stock, valued at $65,008,628.25. This trade represents a 0.60% 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. In the last ninety days, insiders have sold 109,386 shares of company stock worth $1,332,889. Company insiders own 0.97% of the company’s stock.

Institutional Trading of MARA

A number of institutional investors and hedge funds have recently modified their holdings of the business. Corient Private Wealth LP raised its position in shares of MARA by 17.5% during the 2nd quarter. Corient Private Wealth LP now owns 108,198 shares of the business services provider’s stock worth $1,503,000 after purchasing an additional 16,087 shares during the period. Amundi boosted its holdings in shares of MARA by 6.1% in the second quarter. Amundi now owns 56,679 shares of the business services provider’s stock valued at $787,000 after acquiring an additional 3,254 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of MARA in the second quarter valued at $333,000. California State Teachers Retirement System boosted its position in shares of MARA by 1,266.3% during the 2nd quarter. California State Teachers Retirement System now owns 5,629,700 shares of the business services provider’s stock valued at $78,197,000 after purchasing an additional 5,217,648 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new position in shares of MARA in the 2nd quarter worth $185,000. 44.53% of the stock is owned by institutional investors and hedge funds.

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.