MARA (NASDAQ:MARA) Trading Up 1.3% - Here's Why

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) rose 1.3% during trading on Thursday . The company traded as high as $14.00 and last traded at $13.97. Approximately 8,080,882 shares were traded during trading, a decline of 82% from the average daily volume of 45,575,467 shares. The stock had previously closed at $13.79.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MARA shares. B. Riley increased their price target on shares of MARA from $21.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. dropped their price target on shares of MARA from $23.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Piper Sandler dropped their target price on shares of MARA from $34.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of MARA in a report on Thursday, February 27th. Finally, HC Wainwright restated a "buy" rating and set a $28.00 price objective on shares of MARA in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, MARA currently has a consensus rating of "Hold" and an average price target of $22.80.

MARA Stock Down 8.6 %

The stock has a market cap of $4.31 billion, a P/E ratio of 15.78 and a beta of 5.95. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The firm has a 50 day simple moving average of $15.52 and a 200-day simple moving average of $18.07.

Remove Ads

MARA (NASDAQ:MARA - Get Free Report) last released 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 firm 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%. On average, equities research analysts forecast that MARA Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Activity at MARA

In related news, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The shares were 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 approximately $73,851,535.85. This represents a 0.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.31, for a total value of $255,677.00. Following the sale, the chief financial officer now owns 1,773,788 shares in the company, valued at approximately $27,156,694.28. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,710 shares of company stock valued at $1,226,825. 0.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On MARA

Hedge funds have recently bought and sold shares of the company. Milestone Asset Management Group LLC bought a new stake in MARA during the fourth quarter valued at approximately $429,000. Wellington Management Group LLP grew its stake in MARA by 1,726.2% in the fourth quarter. Wellington Management Group LLP now owns 716,430 shares of the business services provider's stock worth $12,015,000 after purchasing an additional 677,199 shares during the period. California State Teachers Retirement System increased its stake in shares of MARA by 2.9% during the fourth quarter. California State Teachers Retirement System now owns 274,676 shares of the business services provider's stock valued at $4,606,000 after purchasing an additional 7,864 shares in the last quarter. Park Square Financial Group LLC bought a new stake in MARA in the fourth quarter worth $27,000. Finally, United Advisor Group LLC lifted its stake in shares of MARA by 64.5% in the fourth quarter. United Advisor Group LLC now owns 51,007 shares of the business services provider's stock worth $855,000 after buying an additional 20,007 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.

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.