MARA (NASDAQ:MARA) Stock Price Up 8.3% - Still a Buy?

Shares of MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) rose 8.3% on Monday . The stock traded as high as $25.04 and last traded at $24.61. Approximately 24,440,547 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 56,646,977 shares. The stock had previously closed at $22.73.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Macquarie increased their price objective on MARA from $22.00 to $29.00 and gave the stock an "outperform" rating in a research note on Monday, November 18th. 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 research report on Tuesday, December 10th. Barclays assumed coverage on shares of MARA in a research note on Monday, November 25th. They issued an "equal weight" rating and a $27.00 target price for the company. HC Wainwright restated a "buy" rating and set a $28.00 price target on shares of MARA in a research report on Wednesday, December 4th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of MARA in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $24.56.

MARA Price Performance

The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The company's fifty day moving average price is $20.92 and its two-hundred day moving average price is $19.29. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 31.09 and a beta of 5.63.

MARA (NASDAQ:MARA - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The business's revenue for the quarter was up 34.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) EPS. On average, equities research analysts forecast that MARA Holdings, Inc. will post -1.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jay P. Leupp sold 6,800 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $29.90, for a total transaction of $203,320.00. Following the completion of the transaction, the director now directly owns 135,756 shares of the company's stock, valued at approximately $4,059,104.40. This represents a 4.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $292,250.00. Following the transaction, the chief financial officer now directly owns 2,077,232 shares in the company, valued at $36,351,560. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 136,922 shares of company stock valued at $2,651,807 in the last quarter. 0.97% of the stock is currently owned by insiders.

Institutional Trading of MARA

A number of large investors have recently added to or reduced their stakes in MARA. Dimensional Fund Advisors LP raised its stake in MARA by 261.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider's stock valued at $64,249,000 after acquiring an additional 2,340,472 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of MARA by 186.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider's stock worth $40,485,000 after buying an additional 1,327,969 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of MARA by 4,394.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider's stock worth $26,892,000 after buying an additional 1,324,625 shares during the period. Public Sector Pension Investment Board bought a new position in MARA in the 2nd quarter valued at about $11,920,000. Finally, Rhumbline Advisers lifted its position in MARA by 126.5% during the second quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider's stock worth $15,615,000 after acquiring an additional 439,309 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company's stock.

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.