MARA (NASDAQ:MARA) Stock Price Up 11.4% - Here's Why

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares rose 11.4% on Wednesday . The company traded as high as $22.15 and last traded at $22.12. Approximately 39,106,941 shares changed hands during trading, a decline of 28% from the average daily volume of 54,447,527 shares. The stock had previously closed at $19.86.

Analyst Upgrades and Downgrades

MARA has been the subject of a number of research reports. Needham & Company LLC restated a "hold" rating on shares of MARA in a research report on Wednesday, November 13th. Macquarie raised their price target on MARA from $22.00 to $29.00 and gave the stock an "outperform" rating in a research report on Monday. Cantor Fitzgerald assumed coverage on MARA in a research note on Thursday, October 10th. They set an "overweight" rating and a $21.00 price target for the company. HC Wainwright restated a "buy" rating and issued a $28.00 price target on shares of MARA in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of MARA from $14.00 to $12.00 and set an "underweight" rating for the company in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $22.57.

MARA Trading Up 13.3 %

The firm has a market cap of $7.24 billion, a PE ratio of 28.00 and a beta of 5.52. 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 company has a 50-day simple moving average of $17.53 and a 200 day simple moving average of $18.64.

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

Insiders Place Their Bets

In related news, CFO Salman Hassan Khan sold 16,700 shares of the firm's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $292,250.00. Following the completion of the transaction, the chief financial officer now directly owns 2,077,232 shares in the company, valued at $36,351,560. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $481,337.50. Following the completion of the transaction, the chief executive officer now directly owns 4,250,804 shares of the company's stock, valued at $74,389,070. This represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,417 shares of company stock valued at $1,524,546 in the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MARA

A number of institutional investors and hedge funds have recently modified their holdings of the company. Beaird Harris Wealth Management LLC grew its position 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 acquiring an additional 695 shares during the last quarter. Financial Advocates Investment Management lifted its stake in shares of MARA by 5.2% in the 3rd quarter. Financial Advocates Investment Management now owns 14,201 shares of the business services provider's stock worth $230,000 after acquiring an additional 700 shares during the period. Ranch Capital Advisors Inc. boosted its holdings in shares of MARA by 6.1% in the second quarter. Ranch Capital Advisors Inc. now owns 13,532 shares of the business services provider's stock valued at $269,000 after acquiring an additional 780 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in MARA by 4.1% during the first quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider's stock worth $505,000 after purchasing an additional 881 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position 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 purchasing an additional 1,062 shares during the period. 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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