MARA (NASDAQ:MARA) Reaches New 52-Week Low – What’s Next?

MARA Holdings (NASDAQ:MARA) hit a new 52-week low during trading on Monday. The company traded as low as $6.65 and last traded at $6.6860, with a volume of 4,277,242 shares traded. The stock had previously closed at $7.02.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MARA shares. Piper Sandler restated an “overweight” rating and issued a $11.00 price target (down from $13.00) on shares of MARA in a research note on Tuesday, October 20th. HC Wainwright began coverage on shares of MARA in a research report on Friday, September 11th. They set a “buy” rating and a $20.00 target price on the stock. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $11.00 price objective (down from $13.00) on shares of MARA in a research note on Monday, September 14th. Rosenblatt Securities reissued a “buy” rating and set a $15.00 target price on shares of MARA in a research report on Friday, August 7th. Finally, Morgan Stanley set a $10.00 price objective on MARA and gave the company an “underweight” rating in a research note on Friday, October 9th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.78.

MARA Stock Performance

The company has a market cap of $2.70 billion, a PE ratio of -0.76 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 business’s 50-day moving average is $10.68 and its 200 day moving average is $11.75.

MARA (NASDAQ:MARA) last posted its quarterly earnings results 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). MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The firm had revenue of $174.88 million for the quarter, compared to the consensus estimate of $209.44 million. During the same quarter in the prior year, the company earned $1.84 earnings per share. The company’s quarterly revenue was down 26.7% compared to the same quarter last year. On average, equities research analysts predict that MARA Holdings will post -1.65 EPS for the current fiscal year.

Insider Activity at MARA

In other news, General Counsel Zabi Nowaid sold 8,376 shares of the business’s stock in a transaction on 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 transaction, the general counsel owned 898,780 shares in the company, valued at $10,785,360. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Khan sold 16,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $9.21, for a total value of $147,360.00. Following the completion of the transaction, the chief financial officer directly owned 377,066 shares of the company’s stock, valued at approximately $3,472,777.86. This trade represents a 4.07% 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 valued at $1,124,731 over the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On MARA

A number of large investors have recently bought and sold shares of MARA. CI Investments Inc. increased its stake in shares of MARA by 7.6% in the 1st quarter. CI Investments Inc. now owns 13,520 shares of the business services provider’s stock valued at $110,000 after buying an additional 957 shares during the period. Greenleaf Trust lifted its stake in MARA by 9.9% during the second quarter. Greenleaf Trust now owns 11,915 shares of the business services provider’s stock worth $165,000 after purchasing an additional 1,076 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of MARA by 58.2% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 4,009 shares of the business services provider’s stock worth $45,000 after acquiring an additional 1,475 shares during the period. Sigma Planning Corp increased its stake in shares of MARA by 12.5% during the first quarter. Sigma Planning Corp now owns 13,409 shares of the business services provider’s stock valued at $109,000 after buying an additional 1,485 shares during the period. Finally, NewEdge Advisors LLC boosted its position in MARA by 14.9% during the second quarter. NewEdge Advisors LLC now owns 12,320 shares of the business services provider’s stock valued at $171,000 after purchasing an additional 1,598 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

MARA Company Profile

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.