MARA (NASDAQ:MARA) Trading Up 2.7% - Here's What Happened

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares rose 2.7% on Friday . The stock traded as high as $14.35 and last traded at $14.38. Approximately 12,637,410 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 45,039,451 shares. The stock had previously closed at $14.01.

Wall Street Analysts Forecast Growth

MARA has been the subject of a number of recent analyst reports. Barclays lowered their target price on shares of MARA from $27.00 to $14.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. HC Wainwright restated a "buy" rating and set a $28.00 price objective on shares of MARA in a research note on Thursday. Rosenblatt Securities began coverage on MARA in a report on Friday, March 7th. They issued a "buy" rating and a $19.00 price target for the company. Needham & Company LLC restated a "hold" rating on shares of MARA in a research note on Thursday, February 27th. Finally, Piper Sandler dropped their price target 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $22.80.

MARA Stock Performance

The stock's fifty day moving average is $13.08 and its two-hundred day moving average is $17.51. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 18.10 and a beta of 6.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00.

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

Insider Buying and Selling

In related news, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $16.68, for a total value of $458,783.40. Following the completion of the transaction, the chief executive officer now directly owns 3,910,843 shares in the company, valued at approximately $65,232,861.24. This represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.31, for a total transaction 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. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MARA. Spire Wealth Management lifted its holdings in MARA by 26.7% during the 4th quarter. Spire Wealth Management now owns 2,843 shares of the business services provider's stock valued at $48,000 after purchasing an additional 599 shares during the last quarter. United Services Automobile Association raised its stake in shares of MARA by 3.4% in the fourth quarter. United Services Automobile Association now owns 19,065 shares of the business services provider's stock valued at $320,000 after acquiring an additional 635 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd grew its position in MARA by 79.3% during the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,945 shares of the business services provider's stock worth $33,000 after acquiring an additional 860 shares during the last quarter. Mackenzie Financial Corp increased its holdings in MARA by 5.1% during the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock valued at $304,000 after purchasing an additional 878 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its stake in MARA by 7.3% in the fourth quarter. CoreCap Advisors LLC now owns 14,541 shares of the business services provider's stock worth $244,000 after purchasing an additional 992 shares in the last quarter. 44.53% of the stock is owned by 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.