MARA (NASDAQ:MARA) Trading Down 3.6% - Here's What Happened

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares dropped 3.6% during mid-day trading on Monday . The stock traded as low as $16.72 and last traded at $17.21. Approximately 13,078,542 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 33,563,473 shares. The stock had previously closed at $17.86.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. B. Riley boosted 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. Barclays assumed coverage on shares of MARA in a research report on Monday, November 25th. They set an "equal weight" rating and a $27.00 target price on the stock. Needham & Company LLC restated a "hold" rating on shares of MARA in a research report on Wednesday, November 13th. HC Wainwright reaffirmed a "buy" rating and issued a $28.00 price objective on shares of MARA in a research note on Wednesday, December 4th. Finally, Cantor Fitzgerald assumed coverage on MARA in a research report on Thursday, October 10th. They set an "overweight" rating and a $21.00 target price on the stock. One investment 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $25.80.

MARA Stock Down 3.8 %

The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 21.76 and a beta of 5.76. 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 firm's 50 day moving average is $21.60 and its two-hundred day moving average is $19.20.

MARA (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.04). The firm had revenue of $131.60 million for the quarter, compared to analysts' expectations of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The business's quarterly revenue was up 34.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. On average, sell-side analysts predict that MARA Holdings, Inc. will post -1.02 EPS for the current year.

Insider Buying and Selling

In other news, Director Jay P. Leupp sold 6,800 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $29.90, for a total value of $203,320.00. Following the transaction, the director now directly owns 135,756 shares in the company, valued at $4,059,104.40. This trade represents a 4.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $481,337.50. Following the sale, the chief executive officer now owns 4,250,804 shares of the company's stock, valued at $74,389,070. The trade was a 0.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 152,615 shares of company stock worth $3,241,916. 0.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On MARA

A number of hedge funds have recently made changes to their positions in the business. Truvestments Capital LLC acquired a new position in MARA in the 3rd quarter worth $26,000. Larson Financial Group LLC increased its position in shares of MARA by 124.2% during the third quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider's stock worth $31,000 after acquiring an additional 1,062 shares during the last quarter. Signaturefd LLC lifted its stake in shares of MARA by 74.8% in the third quarter. Signaturefd LLC now owns 2,975 shares of the business services provider's stock worth $48,000 after acquiring an additional 1,273 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in MARA in the third quarter valued at about $50,000. Finally, Tobam grew its stake in MARA by 173.0% during the 3rd quarter. Tobam now owns 7,701 shares of the business services provider's stock valued at $125,000 after purchasing an additional 4,880 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.