MARA (NASDAQ:MARA) Stock Price Up 5.7% After Analyst Upgrade

MARA Holdings, Inc. (NASDAQ:MARA) traded up 5.7% during mid-day trading on Tuesday after Macquarie raised their price target on the stock from $22.00 to $29.00. Macquarie currently has an outperform rating on the stock. MARA traded as high as $19.32 and last traded at $19.13. 18,150,166 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 54,225,238 shares. The stock had previously closed at $18.10.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC reissued a “hold” rating on shares of MARA in a research note on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and set a $28.00 price objective on shares of MARA in a research report on Wednesday, November 13th. JPMorgan Chase & Co. reduced their target price on shares of MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Friday, August 23rd. Finally, Cantor Fitzgerald started coverage on shares of MARA in a research note on Thursday, October 10th. They set an “overweight” rating and a $21.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, MARA presently has an average rating of “Hold” and a consensus price target of $22.57.

Insider Activity

In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $481,337.50. Following the transaction, the chief executive officer now directly owns 4,250,804 shares of the company’s stock, valued at approximately $74,389,070. This trade represents a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction 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 sale, the chief financial officer now directly owns 2,077,232 shares of the company’s stock, valued at approximately $36,351,560. This trade represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,417 shares of company stock worth $1,524,546. Insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MARA. Dimensional Fund Advisors LP grew its stake in MARA by 261.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after purchasing an additional 2,340,472 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of MARA by 186.6% in the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock valued at $40,485,000 after acquiring an additional 1,327,969 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of MARA by 4,394.8% in the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock valued at $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 second quarter valued at about $11,920,000. Finally, Vanguard Group Inc. lifted its stake in MARA by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock valued at $540,002,000 after purchasing an additional 441,455 shares during the last quarter. Institutional investors own 44.53% of the company’s stock.

MARA Price Performance

The business has a 50-day moving average of $17.38 and a two-hundred day moving average of $18.61. 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 has a market cap of $6.16 billion, a P/E ratio of 24.22 and a beta of 5.52.

MARA (NASDAQ:MARA) last announced its 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 company had revenue of $131.60 million for the quarter, compared to the consensus estimate of $140.26 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The firm’s revenue for the quarter was up 34.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) earnings per share. On average, sell-side analysts anticipate that MARA Holdings, Inc. will post -0.72 earnings per share for the current fiscal year.

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.