MARA (NASDAQ:MARA) Stock Falls 2.6% – Time to Sell?

MARA Holdings (NASDAQ:MARA) shares were down 2.6% during mid-day trading on Monday. The stock traded as low as $6.62 and last traded at $6.84. Approximately 33,602,643 shares changed hands during trading, a decline of 26% from the average session volume of 45,232,457 shares. The stock had previously closed at $7.02.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald decreased their price objective on shares of MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 target price on shares of MARA in a research note on Friday, August 7th. HC Wainwright started coverage on MARA in a report on Friday, September 11th. They set a “buy” rating and a $20.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $11.00 price target (down from $13.00) on shares of MARA in a research report on Tuesday, October 20th. Finally, Morgan Stanley set a $10.00 price objective on MARA and gave the stock an “underweight” rating in a report on Friday, October 9th. Seven research 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 has an average rating of “Hold” and an average price target of $17.78.

MARA Trading Down 2.6%

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 firm’s fifty day moving average is $10.68 and its two-hundred day moving average is $11.75. The firm has a market cap of $2.64 billion, a P/E ratio of -0.75 and a beta of 5.33.

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 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 company had revenue of $174.88 million during the quarter, compared to the consensus estimate of $209.44 million. During the same quarter last year, the company posted $1.84 earnings per share. The firm’s revenue for the quarter was down 26.7% compared to the same quarter last year. Analysts predict that MARA Holdings will post -1.65 earnings per share for the current fiscal year.

Insider Activity at MARA

In other MARA 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 value of $147,360.00. Following the completion of 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 sale was disclosed in a filing 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 firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $11.22, for a total transaction of $308,606.10. Following the completion of the sale, the chief executive officer owned 4,217,586 shares of the company’s stock, valued at $47,321,314.92. This trade represents a 0.65% 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 have sold 106,891 shares of company stock worth $1,124,731 over the last 90 days. 0.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quantinno Capital Management LP lifted its stake in shares of MARA by 315.5% in the 1st quarter. Quantinno Capital Management LP now owns 166,571 shares of the business services provider’s stock valued at $1,359,000 after purchasing an additional 126,482 shares during the period. WINTON GROUP Ltd bought a new stake in shares of MARA during the second quarter valued at approximately $3,545,000. Compass Financial Management LLC purchased a new stake in MARA in the second quarter worth $6,000,000. Edgestream Partners L.P. purchased a new stake in MARA in the first quarter worth $2,864,000. Finally, Hsbc Holdings PLC purchased a new stake in MARA in the fourth quarter worth $5,220,000. Hedge funds and other 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 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.