MARA (NASDAQ:MARA) Shares Up 22.6% - Here's Why

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price was up 22.6% on Monday . The stock traded as high as $23.80 and last traded at $23.60. Approximately 43,903,293 shares traded hands during trading, a decline of 18% from the average daily volume of 53,449,809 shares. The stock had previously closed at $19.25.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Macquarie began coverage on shares of MARA in a research report on Tuesday, September 24th. They issued an "outperform" rating and a $22.00 target price for the company. HC Wainwright reiterated a "buy" rating and issued a $27.00 price target on shares of MARA in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on MARA from $14.00 to $12.00 and set an "underweight" rating on the stock in a research note on Friday, August 23rd. Finally, Cantor Fitzgerald initiated coverage on MARA in a research note on Thursday, October 10th. They issued an "overweight" rating and a $21.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $21.43.

MARA Price Performance

The stock has a market cap of $7.39 billion, a P/E ratio of 16.07 and a beta of 5.52. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13. The company's 50 day moving average price is $16.58 and its 200-day moving average price is $18.44.

Insider Transactions at MARA

In other MARA news, CEO Frederick G. Thiel sold 27,512 shares of the business's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the transaction, the chief executive officer now directly owns 4,278,309 shares of the company's stock, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $292,250.00. Following the completion of the transaction, the chief financial officer now owns 2,077,232 shares in the company, valued at approximately $36,351,560. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the sale, the chief executive officer now directly owns 4,278,309 shares of the company's stock, valued at $67,169,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,417 shares of company stock worth $1,500,486 over the last three months. 0.97% of the stock is owned by company insiders.

Institutional Trading of MARA

A number of institutional investors and hedge funds have recently modified their holdings of the business. Beaird Harris Wealth Management LLC raised its holdings in shares of MARA by 121.1% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider's stock worth $29,000 after purchasing an additional 695 shares during the period. Signaturefd LLC boosted its stake in MARA by 74.8% in the 3rd quarter. Signaturefd LLC now owns 2,975 shares of the business services provider's stock worth $48,000 after purchasing an additional 1,273 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of MARA in the third quarter worth about $50,000. DekaBank Deutsche Girozentrale bought a new position in shares of MARA in the first quarter valued at approximately $105,000. Finally, GAMMA Investing LLC grew its stake in MARA by 108.0% during the second quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider's stock valued at $136,000 after acquiring an additional 3,565 shares in the last quarter. 44.53% of the stock is 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.

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