MARA (NASDAQ:MARA) Stock Price Down 2.5% - Should You Sell?

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares dropped 2.5% on Wednesday . The stock traded as low as $12.89 and last traded at $12.98. Approximately 13,080,092 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 39,009,414 shares. The stock had previously closed at $13.32.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. HC Wainwright reissued a "buy" rating and set a $28.00 price objective on shares of MARA in a research report on Thursday, February 27th. Macquarie boosted their price target on MARA from $22.00 to $29.00 and gave the company an "outperform" rating in a report on Monday, November 18th. Piper Sandler cut their price objective on MARA from $34.00 to $30.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Barclays decreased their target price on shares of MARA from $27.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised shares of MARA from an "underweight" rating to a "neutral" rating and increased their price objective for the stock from $12.00 to $23.00 in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, MARA currently has an average rating of "Hold" and a consensus target price of $23.30.

MARA Price Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00. The firm's fifty day simple moving average is $16.90 and its 200 day simple moving average is $18.34. The firm has a market cap of $4.59 billion, a P/E ratio of 16.83 and a beta of 5.95.

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MARA (NASDAQ:MARA - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The business services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of ($0.32) by $1.56. The business 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, analysts forecast that MARA Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Buying and Selling at MARA

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $23.50, for a total transaction of $392,450.00. Following the sale, the chief financial officer now directly owns 1,836,129 shares in the company, valued at $43,149,031.50. This represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.68, for a total value of $458,783.40. Following the sale, the chief executive officer now owns 3,910,843 shares in the company, valued at $65,232,861.24. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,915 shares of company stock worth $2,289,443 over the last 90 days. 0.80% of the stock is owned by insiders.

Hedge Funds Weigh In On MARA

Hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of MARA by 8.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,656,363 shares of the business services provider's stock valued at $43,086,000 after buying an additional 217,106 shares during the period. Mutual of America Capital Management LLC boosted its holdings in MARA by 112.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 203,975 shares of the business services provider's stock valued at $3,308,000 after acquiring an additional 107,963 shares during the period. Weiss Asset Management LP bought a new position in MARA in the 3rd quarter valued at $1,557,000. Intech Investment Management LLC purchased a new stake in MARA in the third quarter worth $1,107,000. Finally, Public Sector Pension Investment Board lifted its position in shares of MARA by 4.0% during the third quarter. Public Sector Pension Investment Board now owns 624,818 shares of the business services provider's stock worth $10,135,000 after purchasing an additional 24,300 shares during the last quarter. 44.53% of the stock is currently owned by 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.

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