MARA (NASDAQ:MARA) Shares Down 7.2% - Here's What Happened

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares traded down 7.2% on Friday . The company traded as low as $9.81 and last traded at $10.42. 15,402,514 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 45,336,099 shares. The stock had previously closed at $11.23.

Analyst Ratings Changes

MARA has been the topic of several research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of MARA in a report on Thursday, February 27th. Barclays reduced their price objective on MARA from $27.00 to $14.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. JPMorgan Chase & Co. lowered their target price on shares of MARA from $23.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. HC Wainwright reiterated a "buy" rating and issued a $28.00 price target on shares of MARA in a research report on Thursday, February 27th. Finally, Rosenblatt Securities assumed coverage on shares of MARA in a research report on Friday, March 7th. They set a "buy" rating and a $19.00 price objective on the stock. One 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's stock. Based on data from MarketBeat.com, MARA presently has a consensus rating of "Hold" and a consensus target price of $22.80.

MARA Price Performance

The stock has a fifty day moving average of $14.25 and a two-hundred day moving average of $17.81. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 13.32 and a beta of 6.10. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22.

Remove Ads

MARA (NASDAQ:MARA - Get Free Report) last issued its earnings results on Wednesday, February 26th. The business services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of ($0.32) by $1.56. The company had revenue of $214.39 million for the quarter, compared to analyst estimates of $187.11 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. On average, equities research analysts anticipate that MARA Holdings, Inc. will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 16,700 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.31, for a total value of $255,677.00. Following the completion of the transaction, the chief financial officer now directly owns 1,773,788 shares of the company's stock, valued at $27,156,694.28. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $18.01, for a total transaction of $495,365.05. Following the sale, the chief executive officer now directly owns 4,100,585 shares in the company, valued at $73,851,535.85. This represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,710 shares of company stock worth $1,226,825. 0.80% of the stock is owned by corporate insiders.

Institutional Trading of MARA

Several institutional investors have recently made changes to their positions in MARA. Beacon Capital Management LLC acquired a new stake in shares of MARA in the fourth quarter worth $26,000. Park Square Financial Group LLC acquired a new position in shares of MARA in the 4th quarter valued at approximately $27,000. Sterling Capital Management LLC grew its holdings in 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 acquiring an additional 1,426 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd grew its stake in MARA by 79.3% in the fourth 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 increased 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 acquiring an additional 599 shares during the last quarter. 44.53% of the stock is 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.