MARA (NASDAQ:MARA) Shares Up 2.1% - Here's What Happened

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares shot up 2.1% during mid-day trading on Thursday . The stock traded as high as $16.69 and last traded at $16.58. 11,287,659 shares were traded during mid-day trading, a decline of 68% from the average session volume of 34,953,180 shares. The stock had previously closed at $16.24.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MARA. Macquarie lifted their price objective on MARA from $22.00 to $29.00 and gave the company an "outperform" rating in a research report on Monday, November 18th. HC Wainwright reiterated a "buy" rating and issued a $28.00 price objective on shares of MARA in a research report on Wednesday, December 4th. Needham & Company LLC reiterated a "hold" rating on shares of MARA in a research report on Wednesday, November 13th. B. Riley lifted their target price on MARA from $21.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. Finally, Piper Sandler initiated coverage on MARA in a research note on Tuesday, December 17th. They issued an "overweight" rating and a $34.00 target price for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $25.67.

MARA Stock Performance

The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 21.39 and a beta of 5.76. The stock has a 50-day moving average price of $19.14 and a 200-day moving average price of $18.60. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00.

Insider Activity

In other news, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $19.80, for a total value of $544,599.00. Following the completion of the sale, the chief executive officer now directly owns 4,155,595 shares of the company's stock, valued at $82,280,781. This trade represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $19.80, for a total value of $330,660.00. Following the sale, the chief financial officer now directly owns 2,029,647 shares of the company's stock, valued at approximately $40,187,010.60. The trade was a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 135,915 shares of company stock valued at $2,956,634 over the last three months. Insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On MARA

Hedge funds have recently added to or reduced their stakes in the stock. Beacon Capital Management LLC bought a new position in MARA during the 4th quarter worth $26,000. Truvestments Capital LLC bought a new position in shares of MARA in the 3rd quarter valued at $26,000. Sterling Capital Management LLC increased its stake in shares of MARA by 358.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock valued at $31,000 after purchasing an additional 1,426 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of MARA by 124.2% in the 3rd quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider's stock valued at $31,000 after purchasing an additional 1,062 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd raised its stake in MARA by 79.3% during the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,945 shares of the business services provider's stock worth $33,000 after acquiring an additional 860 shares in the last quarter. Institutional investors 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.