MARA (NASDAQ:MARA) Shares Up 2.4% - What's Next?

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) shot up 2.4% during mid-day trading on Thursday . The company traded as high as $13.11 and last traded at $12.83. 10,450,053 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 45,956,438 shares. The stock had previously closed at $12.53.

Analysts Set New Price Targets

MARA has been the topic of a number of analyst reports. Piper Sandler reduced their price objective on shares of MARA from $34.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Needham & Company LLC restated a "hold" rating on shares of MARA in a research report on Thursday, February 27th. JPMorgan Chase & Co. reduced their price target on shares of MARA from $23.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. HC Wainwright reiterated a "buy" rating and set a $28.00 price objective on shares of MARA in a report on Thursday, February 27th. Finally, B. Riley raised their target price on MARA from $21.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $22.80.

MARA Trading Down 1.0 %

The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00. The firm has a market capitalization of $4.28 billion, a PE ratio of 15.67 and a beta of 5.95. The firm's fifty day moving average is $15.97 and its two-hundred day moving average is $18.08.

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MARA (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The business services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of ($0.32) by $1.56. The company had revenue of $214.39 million during 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 analysts predict that MARA Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Activity

In related 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 transaction of $255,677.00. Following the sale, the chief financial officer now directly owns 1,773,788 shares in the company, valued at approximately $27,156,694.28. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $18.01, for a total transaction of $495,365.05. Following the completion of the sale, the chief executive officer now 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. Insiders have sold 72,710 shares of company stock valued at $1,226,825 in the last 90 days. Insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On MARA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MARA. Norges Bank bought a new position in shares of MARA in the fourth quarter worth approximately $46,413,000. Vanguard Group Inc. increased its holdings in shares of MARA by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider's stock worth $650,390,000 after buying an additional 2,706,271 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of MARA by 192.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,897,200 shares of the business services provider's stock valued at $31,817,000 after buying an additional 1,248,292 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of MARA by 44.3% during the 4th quarter. American Century Companies Inc. now owns 4,039,871 shares of the business services provider's stock worth $67,749,000 after acquiring an additional 1,240,354 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in MARA in the fourth quarter worth $13,416,000. 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.