MARA (NASDAQ:MARA) Shares Up 2.8% - Here's What Happened

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) rose 2.8% during mid-day trading on Friday . The company traded as high as $12.67 and last traded at $12.66. Approximately 19,316,788 shares were traded during trading, a decline of 57% from the average daily volume of 45,366,511 shares. The stock had previously closed at $12.32.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on MARA from $23.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Rosenblatt Securities initiated coverage on MARA in a research note on Friday, March 7th. They issued a "buy" rating and a $19.00 price target for the company. Piper Sandler reduced their target price on MARA from $34.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. HC Wainwright reissued a "buy" rating and set a $28.00 price target on shares of MARA in a research report on Thursday, February 27th. Finally, Barclays dropped their target price on MARA from $27.00 to $14.00 and set an "equal weight" rating on the stock in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, MARA presently has a consensus rating of "Hold" and a consensus price target of $22.80.

MARA Trading Down 2.9 %

The business's 50 day moving average is $13.28 and its 200 day moving average is $17.55. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 15.56 and a beta of 6.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00.

MARA (NASDAQ:MARA - Get Free Report) last announced its earnings results on Wednesday, February 26th. The business services provider reported $1.24 earnings per share (EPS) 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%. As a group, equities analysts expect that MARA Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On MARA

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in MARA in the 4th quarter valued at about $46,413,000. Vanguard Group Inc. raised its position in shares of MARA by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider's stock worth $650,390,000 after buying an additional 2,706,271 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of MARA by 192.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,897,200 shares of the business services provider's stock valued at $31,817,000 after purchasing an additional 1,248,292 shares in the last quarter. American Century Companies Inc. grew its stake in MARA by 44.3% during the fourth quarter. American Century Companies Inc. now owns 4,039,871 shares of the business services provider's stock worth $67,749,000 after buying an additional 1,240,354 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of MARA in the 4th quarter valued at $13,416,000. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

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.