MARA (NASDAQ:MARA) Reaches New 52-Week Low – Here’s Why

MARA Holdings (NASDAQ:MARA)’s share price hit a new 52-week low during trading on Monday. The stock traded as low as $6.41 and last traded at $6.4570, with a volume of 21,588,041 shares trading hands. The stock had previously closed at $6.77.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MARA shares. Morgan Stanley set a $10.00 price target on MARA and gave the stock an “underweight” rating in a research report on Friday, October 9th. Weiss Ratings lowered shares of MARA from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, October 23rd. Piper Sandler restated an “overweight” rating and set a $11.00 target price (down from $13.00) on shares of MARA in a research note on Tuesday, October 20th. Cantor Fitzgerald dropped their price objective on MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Finally, HC Wainwright assumed coverage on shares of MARA in a report on Friday, September 11th. They issued a “buy” rating and a $20.00 target price for the company. Seven analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $17.78.

MARA Trading Down 5.0%

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 business’s 50-day simple moving average is $10.37 and its 200-day simple moving average is $10.79. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -0.70 and a beta of 5.33.

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

Insider Transactions at MARA

In other news, CFO Salman Khan sold 16,000 shares of MARA stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $9.21, for a total value of $147,360.00. Following the transaction, 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. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $11.22, for a total transaction of $308,606.10. Following the sale, the chief executive officer directly owned 4,217,586 shares of the company’s stock, valued at approximately $47,321,314.92. This trade represents a 0.65% 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. Insiders have sold a total of 106,891 shares of company stock worth $1,124,731 in the last three months. Company insiders own 0.97% of the company’s stock.

Institutional Trading of MARA

Several large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its stake in shares of MARA by 2.0% in the first quarter. Principal Financial Group Inc. now owns 1,838,149 shares of the business services provider’s stock valued at $14,999,000 after buying an additional 35,978 shares in the last quarter. Hsbc Holdings PLC increased its holdings in MARA by 11.5% in the first quarter. Hsbc Holdings PLC now owns 634,172 shares of the business services provider’s stock valued at $5,099,000 after buying an additional 65,220 shares during the last quarter. Delta Global Management LP acquired a new stake in shares of MARA during the 1st quarter valued at approximately $5,064,000. Compass Rose Asset Management LP acquired a new stake in shares of MARA during the first quarter worth $4,243,000. Finally, Compass Financial Management LLC lifted its position in shares of MARA by 3.1% in the 3rd quarter. Compass Financial Management LLC now owns 445,280 shares of the business services provider’s stock worth $5,045,000 after buying an additional 13,309 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

About MARA

MARA Holdings, Inc (NASDAQ: MARA), formerly known as Marathon Digital Holdings, is a digital asset mining and energy infrastructure company. Its primary business is securing the Bitcoin network by operating specialized computing equipment that validates transactions and earns Bitcoin rewards.

The company develops and operates data centers and digital asset computing infrastructure, while also pursuing strategies to access low-cost and surplus energy. MARA has expanded its operations through a combination of owned facilities, hosting arrangements and acquisitions, with activities spanning North America and other international markets.

The company was founded in 2010 as Marathon Patent Group and later shifted its focus toward cryptocurrency mining before adopting the Marathon Digital name.