MARA (NASDAQ:MARA) Trading Up 5.8% - Here's What Happened

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price was up 5.8% during mid-day trading on Wednesday . The stock traded as high as $12.48 and last traded at $12.52. Approximately 14,872,223 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 45,316,920 shares. The stock had previously closed at $11.84.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. B. Riley boosted their price objective on MARA from $21.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday, December 19th. Rosenblatt Securities initiated coverage on shares of MARA in a research note on Friday, March 7th. They set a "buy" rating and a $19.00 price target for the company. HC Wainwright reiterated a "buy" rating and set a $28.00 target price on shares of MARA in a research report on Thursday, February 27th. JPMorgan Chase & Co. cut their price target on MARA from $23.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Finally, Barclays dropped their price objective on MARA from $27.00 to $14.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, MARA currently has a consensus rating of "Hold" and an average price target of $22.80.

MARA Stock Down 9.6 %

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 company has a market capitalization of $3.88 billion, a P/E ratio of 14.22 and a beta of 6.09. The firm has a fifty day simple moving average of $14.88 and a 200-day simple moving average of $17.93.

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MARA (NASDAQ:MARA - Get Free Report) last announced 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. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The firm had revenue of $214.39 million for the quarter, compared to analyst estimates of $187.11 million. On average, equities research analysts expect that MARA Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the company's stock in a transaction that occurred 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 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 position. The transaction 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 MARA stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 owns 3,910,843 shares in the company, valued at $65,232,861.24. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,710 shares of company stock valued at $1,226,825. Company insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On MARA

Large investors have recently modified their holdings of the business. Beacon Capital Management LLC acquired a new stake in shares of MARA in the fourth quarter valued at about $26,000. Park Square Financial Group LLC bought a new position in MARA in the fourth quarter valued at approximately $27,000. Sterling Capital Management LLC increased its position in shares of MARA by 358.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock worth $31,000 after purchasing an additional 1,426 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd raised its stake in shares of MARA by 79.3% during the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,945 shares of the business services provider's stock worth $33,000 after purchasing an additional 860 shares in the last quarter. Finally, Spire Wealth Management boosted its holdings in shares of MARA by 26.7% in the 4th quarter. Spire Wealth Management now owns 2,843 shares of the business services provider's stock valued at $48,000 after buying an additional 599 shares during 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.