HC Wainwright Reaffirms "Buy" Rating for MARA (NASDAQ:MARA)

HC Wainwright reissued their buy rating on shares of MARA (NASDAQ:MARA - Free Report) in a report issued on Wednesday,Benzinga reports. The brokerage currently has a $28.00 price objective on the business services provider's stock.

Several other research firms have also recently weighed in on MARA. JPMorgan Chase & Co. dropped their price objective on MARA from $14.00 to $12.00 and set an "underweight" rating for the company in a report on Friday, August 23rd. Macquarie began coverage on MARA in a research report on Tuesday, September 24th. They set an "outperform" rating and a $22.00 price objective on the stock. Finally, Cantor Fitzgerald started coverage on MARA in a research report on Thursday, October 10th. They issued an "overweight" rating and a $21.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $21.57.

MARA Trading Down 13.5 %

Shares of MARA stock traded down $3.40 during trading on Wednesday, reaching $21.83. 83,833,828 shares of the stock were exchanged, compared to its average volume of 54,114,516. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 30.23 and a beta of 5.52. MARA has a 1 year low of $8.88 and a 1 year high of $34.09. The stock's fifty day moving average is $16.95 and its 200 day moving average is $18.52.

Insider Buying and Selling

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the firm's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the sale, the chief financial officer now directly owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the sale, the chief financial officer now directly owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $481,337.50. Following the completion of the transaction, the chief executive officer now owns 4,250,804 shares of the company's stock, valued at $74,389,070. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,417 shares of company stock worth $1,500,486 in the last quarter. Corporate insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On MARA

Large investors have recently added to or reduced their stakes in the stock. Truvestments Capital LLC purchased a new position in shares of MARA in the 3rd quarter worth $26,000. Beaird Harris Wealth Management LLC grew its stake in shares of MARA by 121.1% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider's stock valued at $29,000 after purchasing an additional 695 shares during the period. Larson Financial Group LLC increased its position in shares of MARA by 124.2% during the 3rd quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider's stock valued at $31,000 after purchasing an additional 1,062 shares during the last quarter. Signaturefd LLC lifted its stake in shares of MARA by 74.8% in the 3rd quarter. Signaturefd LLC now owns 2,975 shares of the business services provider's stock worth $48,000 after purchasing an additional 1,273 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in shares of MARA in the 3rd quarter worth approximately $50,000. 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.