MARA (NASDAQ:MARA) Shares Down 2.3% – Here’s Why

MARA Holdings, Inc. (NASDAQ:MARA) dropped 2.3% during trading on Thursday . The stock traded as low as $19.40 and last traded at $19.69. Approximately 8,604,550 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 56,361,762 shares. The stock had previously closed at $20.15.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $28.00 target price on shares of MARA in a research note on Wednesday, December 4th. Macquarie raised their target price on shares of MARA from $22.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Barclays assumed coverage on MARA in a report on Monday, November 25th. They set an “equal weight” rating and a $27.00 price target on the stock. JPMorgan Chase & Co. raised MARA from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $12.00 to $23.00 in a report on Tuesday, December 10th. Finally, Piper Sandler began coverage on MARA in a report on Tuesday, December 17th. They issued an “overweight” rating and a $34.00 target price on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, MARA has a consensus rating of “Hold” and an average price target of $25.80.

MARA Trading Down 3.1 %

The stock has a 50-day moving average price of $21.51 and a two-hundred day moving average price of $19.32. The stock has a market capitalization of $6.29 billion, a PE ratio of 24.72 and a beta of 5.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00.

MARA (NASDAQ:MARA) last issued its quarterly earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share 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%. MARA’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 firm earned ($0.05) EPS. As a group, equities analysts forecast that MARA Holdings, Inc. will post -1.02 earnings per share for the current year.

Insiders Place Their Bets

In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $481,337.50. Following the completion of the sale, the chief executive officer now directly owns 4,250,804 shares of the company’s stock, valued at $74,389,070. This trade represents a 0.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $23.50, for a total transaction of $392,450.00. Following the completion of the transaction, the chief financial officer now directly owns 1,836,129 shares in the company, valued at $43,149,031.50. This trade represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 153,615 shares of company stock worth $3,258,686. Corporate insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On MARA

Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in MARA by 186.6% in 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 acquiring an additional 1,327,969 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MARA by 6.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,773 shares of the business services provider’s stock valued at $968,000 after purchasing an additional 3,132 shares in the last quarter. Principal Financial Group Inc. lifted its position in MARA by 4,394.8% during 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 purchasing an additional 1,324,625 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of MARA in the 2nd quarter worth $352,000. Finally, Maryland State Retirement & Pension System bought a new stake in shares of MARA in the 2nd quarter worth about $1,889,000. 44.53% of the stock is owned by institutional investors.

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.