MARA (NASDAQ:MARA) Shares Up 1.8% - Still a Buy?

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares were up 1.8% during mid-day trading on Tuesday . The stock traded as high as $11.69 and last traded at $11.70. Approximately 11,628,358 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 45,311,758 shares. The stock had previously closed at $11.50.

Analysts Set New Price Targets

Several research firms have recently commented on MARA. JPMorgan Chase & Co. reduced their target price on shares of MARA from $23.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Barclays cut their target price on MARA from $27.00 to $14.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. HC Wainwright restated a "buy" rating and issued a $28.00 price target on shares of MARA in a research note on Thursday, February 27th. Rosenblatt Securities began coverage on MARA in a research report on Friday, March 7th. They issued a "buy" rating and a $19.00 price objective for the company. Finally, B. Riley boosted their target price on shares of MARA from $21.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $22.80.

MARA Price Performance

The company has a 50-day moving average of $15.05 and a 200-day moving average of $17.97. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 14.45 and a beta of 6.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00.

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MARA (NASDAQ:MARA - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The business services provider reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of ($0.32) by $1.56. The company 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%. As a group, equities research analysts expect that MARA Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 16,700 shares of the firm'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 owns 1,773,788 shares in the company, valued at $27,156,694.28. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.68, for a total value of $458,783.40. Following the completion of the sale, the chief executive officer now directly owns 3,910,843 shares of the company's stock, valued at approximately $65,232,861.24. This represents a 0.70 % decrease in their position. 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 ninety days. Insiders own 0.80% of the company's stock.

Institutional Trading of MARA

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Beacon Capital Management LLC acquired a new stake in MARA during the fourth quarter worth about $26,000. Park Square Financial Group LLC purchased a new position in MARA in the fourth quarter valued at approximately $27,000. Sterling Capital Management LLC lifted its position in MARA by 358.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock valued at $31,000 after buying an additional 1,426 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd grew its stake in MARA by 79.3% during the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,945 shares of the business services provider's stock worth $33,000 after buying an additional 860 shares during the period. Finally, Spire Wealth Management grew its stake in MARA by 26.7% during the fourth quarter. Spire Wealth Management now owns 2,843 shares of the business services provider's stock worth $48,000 after buying an additional 599 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.