MARA (NASDAQ:MARA) Shares Up 0.7% - Still a Buy?

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price was up 0.7% on Monday . The company traded as high as $13.11 and last traded at $12.75. Approximately 13,558,633 shares changed hands during trading, a decline of 70% from the average daily volume of 45,251,099 shares. The stock had previously closed at $12.66.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MARA shares. Rosenblatt Securities started coverage on shares of MARA in a research report on Friday, March 7th. They set a "buy" rating and a $19.00 target price for the company. Piper Sandler cut their target price on shares of MARA from $34.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. JPMorgan Chase & Co. cut their target price on shares of MARA from $23.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Needham & Company LLC reissued a "hold" rating on shares of MARA in a research report on Thursday, February 27th. Finally, Barclays cut their price objective on shares of MARA from $27.00 to $14.00 and set an "equal weight" rating for the company in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $22.80.

MARA Price Performance

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 stock has a market cap of $4.91 billion, a price-to-earnings ratio of 17.96 and a beta of 6.10. The company's 50-day moving average is $13.23 and its 200-day moving average is $17.53.

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

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 16,700 shares of the company'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 transaction, the chief financial officer now owns 1,773,788 shares of the company's stock, valued at $27,156,694.28. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.68, for a total value of $458,783.40. Following the transaction, the chief executive officer now directly owns 3,910,843 shares in the company, valued at $65,232,861.24. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On MARA

Large investors have recently made changes to their positions in the company. Capital Advisors Inc. OK acquired a new position in shares of MARA during the fourth quarter valued at $699,000. Arkadios Wealth Advisors bought a new stake in MARA in the fourth quarter valued at about $231,000. Foundations Investment Advisors LLC increased its holdings in MARA by 61.2% in the fourth quarter. Foundations Investment Advisors LLC now owns 111,917 shares of the business services provider's stock valued at $1,877,000 after purchasing an additional 42,494 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in MARA by 14.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,028,457 shares of the business services provider's stock valued at $50,787,000 after purchasing an additional 372,094 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in MARA by 17.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 899,004 shares of the business services provider's stock valued at $15,076,000 after purchasing an additional 135,133 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company's stock.

MARA Company Profile

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.