MARA (NASDAQ:MARA) Shares Gap Up - Here's What Happened

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $23.27, but opened at $23.80. MARA shares last traded at $23.73, with a volume of 9,856,495 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MARA. Needham & Company LLC reaffirmed a "hold" rating on shares of MARA in a research note on Wednesday, November 13th. Barclays assumed coverage on shares of MARA in a research report on Monday, November 25th. They issued an "equal weight" rating and a $27.00 price objective for the company. JPMorgan Chase & Co. upgraded MARA from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $12.00 to $23.00 in a research report on Tuesday. Compass Point downgraded MARA from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $21.00 to $25.00 in a research report on Thursday, November 21st. Finally, Macquarie raised their price target on MARA from $22.00 to $29.00 and gave the company an "outperform" rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $24.56.

MARA Stock Down 3.0 %

The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22. The firm's fifty day moving average price is $20.62 and its 200-day moving average price is $19.26. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 28.58 and a beta of 5.63.

MARA (NASDAQ:MARA - Get Free Report) last posted its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share (EPS) 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 analyst estimates of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The firm's revenue was up 34.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) earnings per share. Sell-side analysts predict that MARA Holdings, Inc. will post -1.02 earnings per share for the current year.

Insider Buying and Selling

In other MARA news, Director Jay P. Leupp sold 6,800 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $29.90, for a total transaction of $203,320.00. Following the completion of the transaction, the director now owns 135,756 shares in the company, valued at approximately $4,059,104.40. This represents a 4.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Salman Hassan Khan sold 16,700 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $19.80, for a total value of $330,660.00. Following the completion of the sale, the chief financial officer now owns 2,029,647 shares in the company, valued at approximately $40,187,010.60. This trade represents a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 152,622 shares of company stock valued at $2,890,197. 0.97% of the stock is owned by corporate insiders.

Institutional Trading of MARA

Hedge funds and other institutional investors have recently made changes to their positions in the business. QRG Capital Management Inc. bought a new stake in MARA during the 2nd quarter worth about $293,000. Assenagon Asset Management S.A. bought a new stake in MARA during the second quarter worth about $1,890,000. Brookstone Capital Management boosted its position in MARA by 17.9% during the second quarter. Brookstone Capital Management now owns 98,166 shares of the business services provider's stock valued at $1,949,000 after purchasing an additional 14,879 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of MARA by 56.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 57,931 shares of the business services provider's stock worth $1,150,000 after purchasing an additional 20,861 shares during the last quarter. Finally, Sara Bay Financial raised its stake in shares of MARA by 8.7% during the 2nd quarter. Sara Bay Financial now owns 113,904 shares of the business services provider's stock worth $2,261,000 after purchasing an additional 9,104 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.