MARA (NASDAQ:MARA) Stock Price Down 6.2% - Here's What Happened

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) dropped 6.2% during trading on Monday . The stock traded as low as $18.92 and last traded at $19.77. Approximately 24,577,654 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 53,948,738 shares. The stock had previously closed at $21.07.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of MARA from $14.00 to $12.00 and set an "underweight" rating for the company in a report on Friday, August 23rd. Macquarie upped their target price on shares of MARA from $22.00 to $29.00 and gave the stock an "outperform" rating in a report on Monday. Needham & Company LLC reaffirmed a "hold" rating on shares of MARA in a report on Wednesday, November 13th. HC Wainwright reaffirmed a "buy" rating and set a $28.00 target price on shares of MARA in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald assumed coverage on shares of MARA in a report on Thursday, October 10th. They set an "overweight" rating and a $21.00 target price for the company. 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, the company currently has an average rating of "Hold" and a consensus target price of $22.57.

MARA Price Performance

The company has a market cap of $5.83 billion, a price-to-earnings ratio of 26.09 and a beta of 5.52. The company has a quick ratio of 3.75, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The stock's 50-day simple moving average is $17.38 and its 200 day simple moving average is $18.61.

MARA (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.04). MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The business had revenue of $131.60 million for the quarter, compared to analyst estimates of $140.26 million. During the same period in the prior year, the company posted ($0.05) EPS. The firm's revenue for the quarter was up 34.4% compared to the same quarter last year. On average, equities research analysts anticipate that MARA Holdings, Inc. will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $292,250.00. Following the transaction, the chief financial officer now directly owns 2,077,232 shares in the company, valued at $36,351,560. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction that occurred on 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 owns 4,250,804 shares in the company, valued at approximately $74,389,070. This trade represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,417 shares of company stock worth $1,524,546. Company insiders own 0.97% of the company's stock.

Hedge Funds Weigh In On MARA

Hedge funds have recently modified their holdings of the business. Beaird Harris Wealth Management LLC lifted its holdings in shares of MARA by 121.1% during the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider's stock worth $29,000 after purchasing an additional 695 shares during the period. Truvestments Capital LLC acquired a new stake in MARA in the third quarter valued at $26,000. Larson Financial Group LLC lifted its holdings in MARA by 124.2% in the third quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider's stock valued at $31,000 after acquiring an additional 1,062 shares during the period. Signaturefd LLC lifted its holdings in MARA by 74.8% in the third quarter. Signaturefd LLC now owns 2,975 shares of the business services provider's stock valued at $48,000 after acquiring an additional 1,273 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in MARA in the third quarter valued at $50,000. 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.

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