MARA (NASDAQ:MARA) Shares Down 3.5% – What’s Next?

MARA Holdings (NASDAQ:MARA) dropped 3.5% during trading on Monday. The stock traded as low as $12.09 and last traded at $12.11. Approximately 28,301,880 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 46,311,816 shares. The stock had previously closed at $12.55.

Wall Street Analyst Weigh In

MARA has been the subject of a number of recent research reports. BTIG Research reiterated a “buy” rating and set a $27.00 price objective on shares of MARA in a research note on Monday, June 1st. Morgan Stanley restated an “underweight” rating and set a $11.00 target price (up from $6.00) on shares of MARA in a research note on Friday, September 18th. Piper Sandler lowered their price target on shares of MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. HC Wainwright initiated coverage on shares of MARA in a research report on Friday, September 11th. They issued a “buy” rating and a $20.00 price target for the company. 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 objective for the company. Eight investment 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.20.

MARA Price Performance

The firm’s fifty day moving average price is $11.30 and its 200 day moving average price is $11.63. The stock has a market cap of $4.68 billion, a PE ratio of -1.32 and a beta of 5.32. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.15.

MARA (NASDAQ:MARA) last issued 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). The business had revenue of $174.88 million during the quarter, compared to analysts’ expectations of $209.44 million. MARA had a negative return on equity of 26.05% and a negative net margin of 429.71%.The business’s quarterly revenue was down 26.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.84 earnings per share. As a group, equities analysts expect that MARA Holdings will post -1.65 EPS for the current fiscal year.

Insider Transactions at MARA

In related news, CFO Salman Khan sold 16,000 shares of the stock in a transaction that occurred on 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 owned 377,066 shares of the company’s stock, valued at $3,472,777.86. This represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $11.45, for a total value of $314,932.25. Following the transaction, the chief executive officer owned 4,308,192 shares in the company, valued at $49,328,798.40. The trade was a 0.63% decrease in their ownership of the stock. 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 ninety days, insiders sold 79,386 shares of company stock worth $816,125. 0.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MARA

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ascentis Independent Advisors bought a new stake in shares of MARA in the first quarter valued at about $28,000. Bogart Wealth LLC grew its holdings in MARA by 4,345.1% during the 1st quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock worth $33,000 after acquiring an additional 3,954 shares in the last quarter. IFP Advisors Inc increased its position in MARA by 1,154.9% during the 2nd quarter. IFP Advisors Inc now owns 2,422 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 2,229 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in MARA during the 4th quarter valued at about $36,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of MARA by 344.8% in the 4th quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 3,893 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

MARA Company Profile

MARA Holdings, Inc, formerly known as Marathon Digital Holdings, Inc, is a digital asset technology company focused primarily on mining bitcoin. The company operates and supports computing infrastructure designed to secure the Bitcoin network by processing transactions and earning bitcoin rewards.

MARA develops and deploys large-scale data center and energy infrastructure for digital asset mining. Its activities include operating mining facilities, managing specialized application-specific integrated circuit (ASIC) mining equipment, and pursuing energy and infrastructure solutions intended to support more efficient and scalable computing operations.