MARA (NASDAQ:MARA) Stock Price Down 9.3% – Here’s What Happened

MARA Holdings, Inc. (NASDAQ:MARA) dropped 9.3% during mid-day trading on Thursday . The company traded as low as $11.17 and last traded at $11.26. Approximately 12,034,836 shares traded hands during trading, a decline of 73% from the average daily volume of 45,333,493 shares. The stock had previously closed at $12.42.

Wall Street Analysts Forecast Growth

MARA has been the subject of several recent analyst reports. Rosenblatt Securities assumed coverage on MARA in a report on Friday, March 7th. They issued a “buy” rating and a $19.00 price target for the company. Barclays cut their price objective on shares of MARA from $27.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. JPMorgan Chase & Co. dropped their price objective on shares of MARA from $23.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of MARA in a research note on Thursday, February 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of MARA in a research report on Thursday, February 27th. One investment 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 presently has a consensus rating of “Hold” and an average target price of $22.80.

MARA Trading Down 9.6 %

The firm has a market cap of $3.88 billion, a P/E ratio of 14.22 and a beta of 6.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00. The business’s 50-day moving average is $15.05 and its two-hundred day moving average is $17.97.

MARA (NASDAQ:MARA) last issued its quarterly earnings data on Wednesday, February 26th. The business services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of ($0.32) by $1.56. The company had revenue of $214.39 million for the quarter, compared to analyst estimates of $187.11 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. As a group, analysts predict that MARA Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Activity

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.31, for a total value of $255,677.00. Following the transaction, the chief financial officer now directly owns 1,773,788 shares in the company, valued at $27,156,694.28. This represents a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 owns 3,910,843 shares of the company’s stock, valued at $65,232,861.24. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,710 shares of company stock valued at $1,226,825. 0.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MARA

A number of large investors have recently modified their holdings of MARA. Vanguard Group Inc. raised its holdings in MARA by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider’s stock worth $650,390,000 after acquiring an additional 2,706,271 shares during the last quarter. Geode Capital Management LLC raised its stake in MARA by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 7,675,994 shares of the business services provider’s stock valued at $128,755,000 after purchasing an additional 518,503 shares during the period. American Century Companies Inc. increased its holdings in MARA by 44.3% in the 4th quarter. American Century Companies Inc. now owns 4,039,871 shares of the business services provider’s stock valued at $67,749,000 after acquiring an additional 1,240,354 shares during the last quarter. Northern Trust Corp boosted its stake in MARA by 18.1% during the fourth quarter. Northern Trust Corp now owns 3,293,531 shares of the business services provider’s stock valued at $55,233,000 after buying an additional 504,142 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of MARA by 14.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,028,457 shares of the business services provider’s stock worth $50,787,000 after buying an additional 372,094 shares in the last quarter. 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.