HC Wainwright Issues Pessimistic Outlook for MARA Earnings

MARA Holdings, Inc. (NASDAQ:MARA - Free Report) - Research analysts at HC Wainwright decreased their Q4 2024 earnings estimates for shares of MARA in a research note issued on Wednesday, November 13th. HC Wainwright analyst K. Dede now forecasts that the business services provider will post earnings per share of ($0.54) for the quarter, down from their prior forecast of ($0.51). HC Wainwright has a "Buy" rating and a $28.00 price target on the stock. The consensus estimate for MARA's current full-year earnings is ($1.05) per share. HC Wainwright also issued estimates for MARA's FY2025 earnings at ($1.55) EPS.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald assumed coverage on MARA in a research note on Thursday, October 10th. They set an "overweight" rating and a $21.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on MARA from $14.00 to $12.00 and set an "underweight" rating on the stock in a report on Friday, August 23rd. Macquarie started coverage on MARA in a report on Tuesday, September 24th. They issued an "outperform" rating and a $22.00 price objective for the company. Finally, Needham & Company LLC restated a "hold" rating on shares of MARA in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $21.57.

MARA Trading Up 1.3 %

Shares of MARA stock traded up $0.28 on Friday, hitting $21.07. The stock had a trading volume of 42,654,260 shares, compared to its average volume of 54,079,977. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of 26.67 and a beta of 5.52. MARA has a one year low of $9.21 and a one year high of $34.09. The company has a quick ratio of 3.75, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The stock's 50-day simple moving average is $17.38 and its two-hundred day simple moving average is $18.58.

MARA (NASDAQ:MARA - Get Free Report) last issued its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.04). The company had revenue of $131.60 million for the quarter, compared to analysts' expectations of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The company's revenue was up 34.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.05) earnings per share.

Insider Buying and Selling

In other news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $292,250.00. Following the transaction, the chief financial officer now directly owns 2,077,232 shares in the company, valued at approximately $36,351,560. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frederick G. Thiel sold 27,512 shares of MARA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the transaction, the chief executive officer now owns 4,278,309 shares in the company, valued at $67,169,451.30. This represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,417 shares of company stock valued at $1,524,546 in the last 90 days. Company insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On MARA

Several institutional investors have recently added to or reduced their stakes in MARA. Truvestments Capital LLC purchased a new position in shares of MARA in the third quarter worth $26,000. Beaird Harris Wealth Management LLC boosted its position in MARA by 121.1% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider's stock valued at $29,000 after buying an additional 695 shares during the last quarter. Larson Financial Group LLC increased its holdings in MARA by 124.2% in the 3rd quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider's stock worth $31,000 after buying an additional 1,062 shares during the period. Signaturefd LLC increased its holdings in MARA by 74.8% in the 3rd quarter. Signaturefd LLC now owns 2,975 shares of the business services provider's stock worth $48,000 after buying an additional 1,273 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in MARA during the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds own 44.53% of the company's stock.

About MARA

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.