MARA (NASDAQ:MARA) Shares Down 2.8% on Analyst Downgrade

MARA Holdings, Inc. (NASDAQ:MARA)’s stock price was down 2.8% during mid-day trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $23.00 to $18.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. MARA traded as low as $12.62 and last traded at $12.74. Approximately 9,371,474 shares changed hands during trading, a decline of 80% from the average daily volume of 46,332,603 shares. The stock had previously closed at $13.11.

MARA has been the topic of a number of other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of MARA in a report on Thursday, February 27th. Barclays reduced their target price on shares of MARA from $27.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Macquarie raised their price target on MARA from $22.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective on shares of MARA in a research note on Thursday, February 27th. Finally, Compass Point lowered MARA from a “buy” rating to a “neutral” rating and boosted their target price for the company from $21.00 to $25.00 in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.80.

Insider Buying and Selling

In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $23.50, for a total transaction of $646,367.50. Following the transaction, the chief executive officer now directly owns 4,128,090 shares in the company, valued at approximately $97,010,115. This represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.31, for a total transaction of $255,677.00. Following the sale, the chief financial officer now owns 1,773,788 shares of the company’s stock, valued at approximately $27,156,694.28. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,915 shares of company stock valued at $2,265,643 over the last quarter. Company insiders own 0.80% of the company’s stock.

Institutional Trading of MARA

Several large investors have recently bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in shares of MARA in the 3rd quarter worth about $26,000. Beacon Capital Management LLC acquired a new position in MARA during the fourth quarter worth about $26,000. Park Square Financial Group LLC purchased a new stake in shares of MARA in the fourth quarter valued at about $27,000. Larson Financial Group LLC grew its position in shares of MARA by 124.2% in the third 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. Finally, Sterling Capital Management LLC increased its stake in shares of MARA by 358.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider’s stock worth $31,000 after purchasing an additional 1,426 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

MARA Price Performance

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 company has a 50-day moving average of $16.83 and a 200-day moving average of $18.30. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 15.76 and a beta of 5.95.

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

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.