MARA (NASDAQ:MARA) Shares Down 3.6% - Here's What Happened

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price was down 3.6% on Wednesday . The company traded as low as $18.14 and last traded at $18.39. Approximately 10,995,024 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 35,311,996 shares. The stock had previously closed at $19.07.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MARA shares. Needham & Company LLC reaffirmed a "hold" rating on shares of MARA in a research note on Wednesday, November 13th. Macquarie raised their price target on shares of MARA from $22.00 to $29.00 and gave the company an "outperform" rating in a research report on Monday, November 18th. Piper Sandler initiated coverage on shares of MARA in a research report on Tuesday, December 17th. They set an "overweight" rating and a $34.00 price target on the stock. Cantor Fitzgerald started coverage on shares of MARA in a research report on Thursday, October 10th. They set an "overweight" rating and a $21.00 price target on the stock. Finally, Barclays started coverage on shares of MARA in a report on Monday, November 25th. They set an "equal weight" rating and a $27.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $25.80.

MARA Trading Down 3.8 %

The firm has a market capitalization of $5.90 billion, a P/E ratio of 23.22 and a beta of 5.76. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The firm's 50-day simple moving average is $21.53 and its 200-day simple moving average is $19.22.

MARA (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.04). The business had revenue of $131.60 million during the quarter, compared to the consensus estimate of $140.26 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The company's revenue was up 34.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Analysts anticipate that MARA Holdings, Inc. will post -1.02 EPS for the current year.

Insider Transactions at MARA

In other MARA news, Director Jay P. Leupp sold 6,800 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.90, for a total transaction of $203,320.00. Following the completion of the sale, the director now owns 135,756 shares of the company's stock, valued at $4,059,104.40. This represents a 4.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $481,337.50. Following the sale, the chief executive officer now directly owns 4,250,804 shares of the company's stock, valued at $74,389,070. The trade was a 0.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 153,615 shares of company stock worth $3,258,686. 0.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MARA

Several institutional investors have recently added to or reduced their stakes in MARA. Commonwealth Equity Services LLC boosted its position in MARA by 15.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 81,648 shares of the business services provider's stock valued at $1,621,000 after buying an additional 10,674 shares during the period. Rhumbline Advisers raised its holdings in MARA by 126.5% in the 2nd quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider's stock worth $15,615,000 after purchasing an additional 439,309 shares in the last quarter. Victory Capital Management Inc. raised its holdings in MARA by 67.5% in the 2nd quarter. Victory Capital Management Inc. now owns 57,695 shares of the business services provider's stock worth $1,145,000 after purchasing an additional 23,242 shares in the last quarter. Arizona State Retirement System raised its holdings in MARA by 22.5% in the 2nd quarter. Arizona State Retirement System now owns 74,926 shares of the business services provider's stock worth $1,487,000 after purchasing an additional 13,743 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in MARA by 340.6% in the 2nd quarter. Private Advisor Group LLC now owns 177,137 shares of the business services provider's stock worth $3,516,000 after purchasing an additional 136,934 shares in the last quarter. Hedge funds and other institutional investors 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.