MARA (NASDAQ:MARA) Stock Price Down 4.4% - Here's What Happened

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price dropped 4.4% during mid-day trading on Wednesday . The stock traded as low as $23.63 and last traded at $24.13. Approximately 40,684,949 shares changed hands during trading, a decline of 25% from the average daily volume of 53,918,383 shares. The stock had previously closed at $25.23.

Analyst Ratings Changes

MARA has been the subject of several research reports. Needham & Company LLC restated a "hold" rating on shares of MARA in a research report on Wednesday. Macquarie started coverage on MARA in a research report on Tuesday, September 24th. They set an "outperform" rating and a $22.00 price objective for the company. JPMorgan Chase & Co. cut their price target on MARA from $14.00 to $12.00 and set an "underweight" rating for the company in a report on Friday, August 23rd. Cantor Fitzgerald started coverage on MARA in a report on Thursday, October 10th. They issued an "overweight" rating and a $21.00 price target for the company. Finally, HC Wainwright reiterated a "buy" rating and issued a $28.00 price target on shares of MARA in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $21.57.

MARA Trading Down 13.5 %

The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13. The business's 50-day simple moving average is $16.95 and its two-hundred day simple moving average is $18.52. The company has a market capitalization of $6.43 billion, a PE ratio of 30.23 and a beta of 5.52.

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 dated Monday, September 16th. The shares were sold at an average price of $15.70, for a total value of $262,190.00. Following the completion of the transaction, the chief financial officer now directly owns 2,103,347 shares of the company's stock, valued at $33,022,547.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the transaction, the chief financial officer now owns 2,103,347 shares of the company's stock, valued at approximately $33,022,547.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $481,337.50. Following the transaction, the chief executive officer now directly owns 4,250,804 shares in the company, valued at $74,389,070. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,417 shares of company stock valued at $1,500,486 in the last ninety days. Insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On MARA

Several institutional investors and hedge funds have recently bought and sold shares of MARA. Swiss National Bank raised its stake in MARA by 5.4% during the first quarter. Swiss National Bank now owns 439,600 shares of the business services provider's stock worth $9,926,000 after acquiring an additional 22,600 shares during the period. ProShare Advisors LLC boosted its holdings in shares of MARA by 13.3% in the first quarter. ProShare Advisors LLC now owns 41,626 shares of the business services provider's stock valued at $940,000 after acquiring an additional 4,873 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of MARA by 1.9% in the first quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider's stock valued at $540,002,000 after acquiring an additional 441,455 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of MARA by 4.1% in the first quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider's stock valued at $505,000 after acquiring an additional 881 shares in the last quarter. Finally, American International Group Inc. boosted its holdings in MARA by 4.3% during the first quarter. American International Group Inc. now owns 110,489 shares of the business services provider's stock worth $2,495,000 after buying an additional 4,593 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company's stock.

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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