MARA (NASDAQ:MARA) Shares Down 2% - Here's What Happened

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares were down 2% during mid-day trading on Tuesday . The stock traded as low as $16.31 and last traded at $16.57. Approximately 8,955,590 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 34,343,180 shares. The stock had previously closed at $16.90.

Analyst Ratings Changes

Several equities research analysts recently commented on MARA shares. HC Wainwright reiterated a "buy" rating and issued a $28.00 price objective on shares of MARA in a report on Wednesday, December 4th. Needham & Company LLC reiterated a "hold" rating on shares of MARA in a report on Wednesday, November 13th. Barclays began coverage on MARA in a report on Monday, November 25th. They issued an "equal weight" rating and a $27.00 price objective for the company. JPMorgan Chase & Co. upgraded MARA from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $12.00 to $23.00 in a research note on Tuesday, December 10th. Finally, B. Riley boosted their price objective on MARA from $21.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $25.67.

MARA Stock Down 8.1 %

The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $18.58 and a 200-day moving average price of $18.55. The firm has a market cap of $4.98 billion, a P/E ratio of 18.56 and a beta of 5.76.

Insider Buying and Selling

In related news, Director Jay P. Leupp sold 6,800 shares of the company's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $29.90, for a total transaction of $203,320.00. Following the completion of the sale, the director now directly owns 135,756 shares in the company, valued at $4,059,104.40. This represents a 4.77 % decrease in their position. The sale was disclosed in a document filed 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 Monday, December 16th. The stock was sold at an average price of $23.50, for a total value of $646,367.50. Following the sale, the chief executive officer now owns 4,128,090 shares of the company's stock, valued at $97,010,115. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,215 shares of company stock worth $2,540,158 in the last three months. 0.80% of the stock is owned by insiders.

Institutional Investors Weigh In On MARA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in MARA by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider's stock valued at $650,390,000 after buying an additional 2,706,271 shares during the last quarter. Geode Capital Management LLC raised its stake in MARA by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 7,675,994 shares of the business services provider's stock valued at $128,755,000 after buying an additional 518,503 shares during the last quarter. American Century Companies Inc. raised its stake in MARA by 44.3% in the fourth quarter. American Century Companies Inc. now owns 4,039,871 shares of the business services provider's stock valued at $67,749,000 after buying an additional 1,240,354 shares during the last quarter. Northern Trust Corp raised its stake in MARA by 18.1% in the fourth quarter. Northern Trust Corp now owns 3,293,531 shares of the business services provider's stock valued at $55,233,000 after buying an additional 504,142 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake 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 buying an additional 372,094 shares during the last quarter. 44.53% of the stock is currently 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.