MARA (NASDAQ:MARA) Stock Jumps 1.2% – Should You Buy?

MARA Holdings (NASDAQ:MARA) shares rose 1.2% during mid-day trading on Thursday. The stock traded as high as $8.36 and last traded at $8.33. Approximately 41,321,469 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 45,601,191 shares. The stock had previously closed at $8.23.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MARA. Piper Sandler decreased their target price on MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $11.00 target price (down from $13.00) on shares of MARA in a research note on Monday, September 14th. Weiss Ratings raised MARA from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price target on shares of MARA in a research report on Friday, August 7th. Finally, HC Wainwright initiated coverage on shares of MARA in a research report on Friday, September 11th. They set a “buy” rating and a $20.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $19.10.

MARA Stock Up 1.2%

The company has a debt-to-equity ratio of 1.15, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of -0.91 and a beta of 5.33. The firm has a 50 day simple moving average of $10.99 and a two-hundred day simple moving average of $11.79.

MARA (NASDAQ:MARA) last posted its earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($1.77). The company had revenue of $174.88 million for the quarter, compared to analyst estimates of $209.44 million. MARA had a negative return on equity of 26.05% and a negative net margin of 429.71%. MARA’s quarterly revenue was down 26.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.84 earnings per share. As a group, sell-side analysts expect that MARA Holdings will post -1.65 EPS for the current year.

Insider Activity at MARA

In other MARA news, General Counsel Zabi Nowaid sold 8,376 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $12.00, for a total value of $100,512.00. Following the completion of the sale, the general counsel owned 898,780 shares of the company’s stock, valued at approximately $10,785,360. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Khan sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $9.21, for a total transaction of $147,360.00. Following the completion of the sale, the chief financial officer directly owned 377,066 shares of the company’s stock, valued at $3,472,777.86. The trade was a 4.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 106,891 shares of company stock worth $1,124,731. 0.97% of the stock is currently owned by company insiders.

Institutional Trading of MARA

Large investors have recently made changes to their positions in the company. Everhart Financial Group Inc. acquired a new stake in MARA during the 3rd quarter worth $152,000. Moody National Bank Trust Division grew its stake in MARA by 19.4% in the third quarter. Moody National Bank Trust Division now owns 159,737 shares of the business services provider’s stock valued at $1,810,000 after acquiring an additional 25,962 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in MARA by 58.2% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 4,009 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 1,475 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of MARA in the second quarter worth about $161,000. Finally, WINTON GROUP Ltd bought a new stake in shares of MARA in the second quarter worth about $3,545,000. Institutional investors own 44.53% of the company’s stock.

MARA Company Profile

MARA Holdings, Inc (NASDAQ: MARA), formerly known as Marathon Digital Holdings, is a digital asset technology company focused primarily on mining bitcoin. The company operates specialized data centers containing application-specific integrated circuit (ASIC) computers that process transactions and secure the Bitcoin network in exchange for bitcoin rewards.

In addition to bitcoin mining, MARA develops and operates digital asset computing infrastructure. Its activities include managing energy and data-center resources, deploying mining hardware, and pursuing technologies designed to improve the efficiency and scalability of digital asset mining.