MARA (NASDAQ:MARA) Trading 2.4% Higher - Time to Buy?

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares rose 2.4% on Tuesday . The company traded as high as $18.13 and last traded at $17.61. Approximately 13,438,223 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 33,374,633 shares. The stock had previously closed at $17.19.

Analysts Set New Price Targets

Several equities analysts have recently commented on MARA shares. JPMorgan Chase & Co. upgraded shares of MARA from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $12.00 to $23.00 in a report on Tuesday, December 10th. Compass Point downgraded MARA from a "buy" rating to a "neutral" rating and raised their price target for the stock from $21.00 to $25.00 in a research note on Thursday, November 21st. HC Wainwright reissued a "buy" rating and issued a $28.00 price target on shares of MARA in a research note on Wednesday, December 4th. Cantor Fitzgerald assumed coverage on shares of MARA in a research note on Thursday, October 10th. They issued an "overweight" rating and a $21.00 target price for the company. Finally, Piper Sandler began coverage on shares of MARA in a research note on Tuesday, December 17th. They issued an "overweight" rating and a $34.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $25.80.

MARA Trading Up 1.0 %

The company has a market capitalization of $5.59 billion, a P/E ratio of 21.97 and a beta of 5.76. The business has a fifty day moving average price of $21.64 and a 200 day moving average price of $19.19. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22.

MARA (NASDAQ:MARA - Get Free Report) last issued its earnings results 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). The firm had revenue of $131.60 million for the quarter, compared to analyst estimates of $140.26 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. MARA's quarterly revenue was up 34.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. On average, analysts expect that MARA Holdings, Inc. will post -1.02 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 dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $481,337.50. Following the transaction, the chief executive officer now directly owns 4,250,804 shares in the company, valued at approximately $74,389,070. This represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Salman Hassan Khan sold 16,700 shares of the 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 $292,250.00. Following the transaction, the chief financial officer now owns 2,077,232 shares in the company, valued at approximately $36,351,560. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,615 shares of company stock worth $3,241,916. Insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On MARA

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its stake in MARA by 67.5% in the second quarter. Victory Capital Management Inc. now owns 57,695 shares of the business services provider's stock valued at $1,145,000 after acquiring an additional 23,242 shares during the last quarter. Thoroughbred Financial Services LLC bought a new position in MARA in the second quarter valued at about $310,000. Dimensional Fund Advisors LP lifted its holdings in shares of MARA by 261.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider's stock worth $64,249,000 after acquiring an additional 2,340,472 shares during the last quarter. Virtu Financial LLC boosted its position in MARA by 67.5% in the second quarter. Virtu Financial LLC now owns 98,329 shares of the business services provider's stock valued at $1,952,000 after buying an additional 39,627 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in shares of MARA by 79.9% during the second quarter. Mutual of America Capital Management LLC now owns 96,012 shares of the business services provider's stock worth $1,906,000 after buying an additional 42,647 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors.

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.