MARA (NASDAQ:MARA) Shares Gap Down - What's Next?

Shares of MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $25.23, but opened at $24.32. MARA shares last traded at $25.08, with a volume of 19,102,211 shares changing hands.

Analyst Upgrades and Downgrades

MARA has been the topic of several recent research reports. HC Wainwright reissued a "buy" rating and set a $28.00 price objective on shares of MARA in a report on Wednesday. JPMorgan Chase & Co. cut their price objective on MARA from $14.00 to $12.00 and set an "underweight" rating on the stock in a report on Friday, August 23rd. Cantor Fitzgerald assumed coverage on MARA in a report on Thursday, October 10th. They set an "overweight" rating and a $21.00 price objective on the stock. Macquarie assumed coverage on MARA in a research report on Tuesday, September 24th. They set an "outperform" rating and a $22.00 target price for the company. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of MARA in a research report on Wednesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $21.57.

MARA Price Performance

The firm has a market cap of $6.90 billion, a P/E ratio of 30.23 and a beta of 5.52. The business's fifty day simple moving average is $16.95 and its 200-day simple moving average is $18.52. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13.

Insider Transactions at MARA

In related news, CFO Salman Hassan Khan sold 16,700 shares of the company's stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $292,250.00. Following the completion of the transaction, the chief financial officer now directly owns 2,077,232 shares in the company, valued at approximately $36,351,560. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $481,337.50. Following the completion of the sale, the chief executive officer now directly owns 4,250,804 shares in the company, valued at $74,389,070. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the company's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $292,250.00. Following the sale, the chief financial officer now owns 2,077,232 shares of the company's stock, valued at approximately $36,351,560. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,417 shares of company stock valued at $1,500,486. 0.97% of the stock is currently owned by company insiders.

Institutional Trading of MARA

Several institutional investors and hedge funds have recently bought and sold shares of MARA. Vanguard Group Inc. increased its position in MARA by 1.9% in the first quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider's stock worth $540,002,000 after buying an additional 441,455 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of MARA by 261.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider's stock worth $64,249,000 after purchasing an additional 2,340,472 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of MARA by 8.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,656,363 shares of the business services provider's stock worth $43,086,000 after purchasing an additional 217,106 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of MARA by 186.6% during the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider's stock worth $40,485,000 after purchasing an additional 1,327,969 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of MARA by 2.7% during the third quarter. Principal Financial Group Inc. now owns 1,391,916 shares of the business services provider's stock worth $22,577,000 after purchasing an additional 37,150 shares in the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.