MARA (NASDAQ:MARA) Stock Price Down 6.2% - Here's What Happened

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price fell 6.2% on Thursday . The company traded as low as $11.38 and last traded at $11.55. 11,112,023 shares were traded during mid-day trading, a decline of 76% from the average session volume of 45,364,672 shares. The stock had previously closed at $12.31.

Analysts Set New Price Targets

Several research firms have commented on MARA. B. Riley lifted their target price on shares of MARA from $21.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday, December 19th. Needham & Company LLC reissued a "hold" rating on shares of MARA in a research note on Thursday, February 27th. JPMorgan Chase & Co. dropped their price objective on shares of MARA from $23.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Piper Sandler cut their price target on shares of MARA from $34.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Finally, Rosenblatt Securities initiated coverage on MARA in a research report on Friday, March 7th. They issued a "buy" rating and a $19.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $22.80.

MARA Stock Performance

The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 16.39 and a beta of 6.10. The company's fifty day simple moving average is $13.77 and its two-hundred day simple moving average is $17.69. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00.

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MARA (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $1.56. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The firm had revenue of $214.39 million for the quarter, compared to analysts' expectations of $187.11 million. Equities research analysts predict that MARA Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Activity

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.31, for a total transaction of $255,677.00. Following the completion of the transaction, the chief financial officer now owns 1,773,788 shares in the company, valued at approximately $27,156,694.28. The trade was a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $18.01, for a total transaction of $495,365.05. Following the sale, the chief executive officer now owns 4,100,585 shares in the company, valued at $73,851,535.85. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 71,710 shares of company stock valued at $1,209,825. Company insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Beacon Capital Management LLC acquired a new stake in shares of MARA during the fourth quarter worth $26,000. Park Square Financial Group LLC purchased a new stake in shares of MARA in the 4th quarter valued at approximately $27,000. Sterling Capital Management LLC boosted its stake in MARA by 358.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock worth $31,000 after purchasing an additional 1,426 shares during the period. Stonehage Fleming Financial Services Holdings Ltd boosted its stake in MARA by 79.3% in the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,945 shares of the business services provider's stock worth $33,000 after purchasing an additional 860 shares during the period. Finally, Spire Wealth Management raised its stake in MARA by 26.7% during the 4th quarter. Spire Wealth Management now owns 2,843 shares of the business services provider's stock valued at $48,000 after purchasing an additional 599 shares during the period. 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.