MARA (NASDAQ:MARA) Shares Down 9.7% – Here’s What Happened

Shares of MARA Holdings (NASDAQ:MARA) fell 9.7% during trading on Wednesday. The stock traded as low as $8.17 and last traded at $8.23. Approximately 38,480,997 shares traded hands during trading, a decline of 16% from the average daily volume of 45,621,730 shares. The stock had previously closed at $9.11.

More MARA News

Here are the key news stories impacting MARA this week:

• Positive Sentiment: Institutional interest remains mixed but includes substantial purchases: D. E. Shaw, Dimensional Fund Advisors, BlackRock and other investors increased their MARA positions during the second quarter of 2026. MARA slides as bitcoin weakness and renewed selling concerns pressure sentiment
• Neutral Sentiment: Analyst views are wide-ranging, with recent price targets spanning $5.50 to $27 and a reported median target of $19.50, highlighting significant uncertainty about MARA’s valuation and growth prospects.
• Negative Sentiment: Bitcoin traded lower near $81,800, extending a broader crypto-market selloff. Because bitcoin mining revenue and investor sentiment are highly sensitive to the token’s price, the weakness has also pressured other miners, including CleanSpark, Riot Platforms and Hut 8. Why Did MARA Stock Fall?
• Negative Sentiment: Reports that approximately $81 million of bitcoin, or about 996 BTC, moved from MARA-linked wallets to Galaxy Digital renewed concerns that the company could be monetizing its treasury. The transfer does not confirm a sale, but it may increase perceived near-term selling pressure. MARA transfers bitcoin to Galaxy Digital
• Negative Sentiment: Morgan Stanley lowered its MARA price target to $10 while retaining an Underweight rating, adding to valuation pressure.
• Negative Sentiment: Investors remain concerned about operating execution: the latest quarterly materials showed revenue down 27% year over year, a $611.3 million net loss and bitcoin holdings down 29% year over year to 35,577 BTC. The stock’s approximately 83% five-year decline has further intensified scrutiny of whether the AI and digital-infrastructure pivot can offset mining volatility. MARA stock valuation analysis
• Negative Sentiment: Insider activity is another bearish signal: company insiders reportedly made 20 open-market sales and no purchases during the past six months, including sales by the chief executive officer and chief financial officer.

Analyst Upgrades and Downgrades

MARA has been the subject of a number of analyst reports. Citizens Jmp began coverage on shares of MARA in a research note on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 target price on shares of MARA in a research note on Friday, August 7th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $11.00 price target (down from $13.00) on shares of MARA in a report on Monday, September 14th. Weiss Ratings raised shares of MARA from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Finally, Morgan Stanley set a $10.00 price target on shares of MARA and gave the company an “underweight” rating in a research report on Friday, October 9th. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.10.

MARA Stock Performance

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $3.18 billion, a P/E ratio of -0.90 and a beta of 5.33. The business has a fifty day moving average price of $11.05 and a 200-day moving average price of $11.79.

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

Insider Activity

In other news, CFO Salman Khan sold 16,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $9.21, for a total transaction of $147,360.00. Following the sale, the chief financial officer owned 377,066 shares of the company’s stock, valued at $3,472,777.86. This trade represents a 4.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 8,376 shares of MARA stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $12.00, for a total transaction of $100,512.00. Following the completion of the sale, the general counsel owned 898,780 shares of the company’s stock, valued at $10,785,360. This represents a 0.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 valued at $1,124,731 in the last 90 days. 0.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MARA

A number of large investors have recently added to or reduced their stakes in MARA. Ascentis Independent Advisors purchased a new stake in shares of MARA during the 1st quarter valued at about $28,000. Bogart Wealth LLC boosted its holdings in shares of MARA by 4,345.1% in the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock worth $33,000 after buying an additional 3,954 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of MARA by 1,154.9% in the second quarter. IFP Advisors Inc now owns 2,422 shares of the business services provider’s stock worth $34,000 after buying an additional 2,229 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of 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 worth $45,000 after buying an additional 1,475 shares during the last quarter. Finally, CoreCap Advisors LLC grew its position in MARA by 128.0% during the second quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider’s stock valued at $51,000 after buying an additional 2,050 shares during the period. Institutional investors own 44.53% of the company’s stock.

About MARA

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.