MARA (NASDAQ:MARA) Trading Down 4.1% – What’s Next?

MARA Holdings (NASDAQ:MARA)’s stock price traded down 4.1% during mid-day trading on Thursday . The company traded as low as $11.22 and last traded at $11.43. 38,433,378 shares changed hands during trading, a decline of 17% from the average daily volume of 46,143,547 shares. The stock had previously closed at $11.92.

Analysts Set New Price Targets

Several equities research analysts recently commented on MARA shares. Piper Sandler cut their price target on shares of MARA from $16.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 target price on shares of MARA in a research report on Friday, August 7th. Cantor Fitzgerald cut their target price on shares of MARA from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Morgan Stanley upped their price target on shares of MARA from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, August 13th. Finally, Citizens Jmp started coverage on shares of MARA in a research note on Wednesday, June 24th. They issued a “market outperform” rating and a $24.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.78.

MARA Stock Performance

The stock has a market capitalization of $4.42 billion, a PE ratio of -1.25 and a beta of 5.32. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 0.89. The firm’s 50 day moving average is $11.27 and its two-hundred day moving average is $11.32.

MARA (NASDAQ:MARA) last released its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($1.77). The firm had revenue of $174.88 million for the quarter, compared to the consensus estimate of $209.44 million. MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The firm’s revenue for the quarter was down 26.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.84 earnings per share. As a group, research analysts predict that MARA Holdings will post -1.24 earnings per share for the current year.

Insider Activity

In other news, Director Douglas Mellinger sold 7,000 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $16.00, for a total value of $112,000.00. Following the completion of the transaction, the director owned 231,618 shares in the company, valued at $3,705,888. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Khan sold 16,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $9.21, for a total value of $147,360.00. Following the sale, the chief financial officer directly owned 377,066 shares in the company, valued at $3,472,777.86. This trade represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 109,386 shares of company stock worth $1,332,889 over the last three months. 0.97% of the stock is currently owned by insiders.

Institutional Trading of MARA

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of MARA by 1.4% during the second quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock valued at $210,977,000 after purchasing an additional 191,380 shares during the last quarter. UBS Group AG boosted its holdings in MARA by 104.1% in the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after purchasing an additional 6,172,110 shares during the last quarter. Marex Group plc grew its position in MARA by 2.6% in the 4th quarter. Marex Group plc now owns 10,137,713 shares of the business services provider’s stock worth $91,037,000 after purchasing an additional 259,210 shares during the period. Geode Capital Management LLC grew its position in MARA by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock worth $89,434,000 after purchasing an additional 251,674 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in shares of MARA by 1,266.3% during the 2nd quarter. California State Teachers Retirement System now owns 5,629,700 shares of the business services provider’s stock valued at $78,197,000 after buying an additional 5,217,648 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

About MARA

MARA Holdings, Inc is an energy and digital infrastructure company whose core business is Bitcoin mining. Headquartered in Hallandale Beach, Florida, the company operates large-scale computing infrastructure designed to convert energy into high-value compute workloads.