MARA (NASDAQ:MARA) Shares Down 2.6% – Here’s What Happened

MARA Holdings, Inc. (NASDAQ:MARA) dropped 2.6% on Wednesday . The company traded as low as $17.30 and last traded at $17.19. Approximately 8,841,587 shares changed hands during trading, a decline of 76% from the average daily volume of 37,302,832 shares. The stock had previously closed at $17.65.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised MARA from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $12.00 to $23.00 in a research note on Tuesday, December 10th. Macquarie upped their price target on MARA from $22.00 to $29.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Compass Point downgraded MARA from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $21.00 to $25.00 in a research report on Thursday, November 21st. Piper Sandler began coverage on shares of MARA in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $34.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $28.00 price target on shares of MARA in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $25.67.

MARA Stock Performance

The stock has a market capitalization of $5.69 billion, a PE ratio of 21.23 and a beta of 5.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00. The firm’s 50 day moving average is $20.25 and its two-hundred day moving average is $18.82.

MARA (NASDAQ:MARA) last posted its quarterly earnings data on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The company had revenue of $131.60 million for the quarter, compared to analysts’ expectations of $140.26 million. During the same period in the prior year, the company posted ($0.05) EPS. The firm’s revenue was up 34.4% compared to the same quarter last year. As a group, research analysts predict that MARA Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Activity at MARA

In other news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $19.80, for a total transaction of $544,599.00. Following the sale, the chief executive officer now owns 4,155,595 shares of the company’s stock, valued at approximately $82,280,781. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $19.80, for a total value of $330,660.00. Following the completion of the transaction, the chief financial officer now directly owns 2,029,647 shares of the company’s stock, valued at $40,187,010.60. This trade represents a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 136,915 shares of company stock valued at $2,980,694 over the last 90 days. 0.80% of the stock is owned by corporate insiders.

Institutional Trading of MARA

Several institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC lifted its position in MARA by 27.7% in the third quarter. Private Advisor Group LLC now owns 226,199 shares of the business services provider’s stock valued at $3,669,000 after acquiring an additional 49,062 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of MARA by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,656,363 shares of the business services provider’s stock valued at $43,086,000 after purchasing an additional 217,106 shares during the period. Mutual of America Capital Management LLC increased its position in MARA by 112.4% during the third quarter. Mutual of America Capital Management LLC now owns 203,975 shares of the business services provider’s stock worth $3,308,000 after buying an additional 107,963 shares during the period. Everence Capital Management Inc. acquired a new position in MARA during the third quarter worth approximately $640,000. Finally, Weiss Asset Management LP purchased a new stake in MARA in the third quarter valued at approximately $1,557,000. Hedge funds and other 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.