MARA (NASDAQ:MARA) Stock Jumps 4.6% Following Better-Than-Expected Earnings

MARA Holdings (NASDAQ:MARA)’s stock price rose 4.6% during mid-day trading on Monday following a stronger than expected earnings report. The stock traded as high as $6.73 and last traded at $6.64. 41,859,972 shares were traded during trading, a decline of 7% from the average session volume of 44,932,543 shares. The stock had previously closed at $6.35.

The business services provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $1.67. The company had revenue of $164.23 million during the quarter, compared to analysts’ expectations of $183.24 million. MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%.

Key Headlines Impacting MARA

Here are the key news stories impacting MARA this week:

• Positive Sentiment: Traders bought an unusually high volume of MARA call options, suggesting some investors are positioning for potential upside around the earnings announcement. Call activity does not guarantee a positive move. Traders Buy High Volume of MARA Call Options
• Neutral Sentiment: MARA was among the companies expected to report earnings on November 9, putting its quarterly results and outlook in focus as near-term catalysts. Options Volatility and Implied Earnings Moves Today A separate preview also discussed expectations for the report. MARA heads into Q3 earnings
• Negative Sentiment: A crypto earnings preview said MARA and two other crypto-related stocks had each fallen at least 37% since September 30, amid a weaker November. That recent sector weakness may weigh on sentiment, while results could renew concerns about the outlook. Crypto Earnings to Watch

Analyst Upgrades and Downgrades

MARA has been the subject of several research reports. Rosenblatt Securities restated a “buy” rating and set a $15.00 price objective on shares of MARA in a research report on Friday, August 7th. HC Wainwright assumed coverage on MARA in a research report on Friday, September 11th. They issued a “buy” rating and a $20.00 target price on the stock. Cantor Fitzgerald decreased their target price on MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Weiss Ratings lowered MARA from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, October 23rd. Finally, Morgan Stanley set a $10.00 price target on MARA and gave the stock an “underweight” rating in a report on Friday, October 9th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.78.

Insider Activity at MARA

In other MARA news, General Counsel Zabi Nowaid sold 8,376 shares of the business’s stock in a transaction dated 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 $10,785,360. The trade was a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $9.21, for a total transaction of $147,360.00. Following the transaction, the chief financial officer owned 377,066 shares in the company, valued at approximately $3,472,777.86. The trade was a 4.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 134,396 shares of company stock worth $1,311,490. Corporate insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On MARA

Several institutional investors have recently made changes to their positions in MARA. IFP Advisors Inc boosted its holdings in shares of MARA by 1,154.9% in 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of MARA during the third quarter valued at about $37,000. Ascentis Independent Advisors bought a new position in MARA in the 1st quarter valued at approximately $28,000. CoreCap Advisors LLC raised its holdings in MARA by 128.0% in the 2nd 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 last quarter. Finally, Activest Wealth Management boosted its position in MARA by 300.0% during the 3rd quarter. Activest Wealth Management now owns 4,000 shares of the business services provider’s stock worth $45,000 after buying an additional 3,000 shares during the period. 44.53% of the stock is currently owned by institutional investors.

MARA Trading Up 4.6%

The firm’s 50-day moving average is $9.88 and its 200 day moving average is $10.68. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of -0.72 and a beta of 5.23.

About MARA

MARA Holdings, Inc, formerly known as Marathon Digital Holdings, is a digital energy and infrastructure company focused primarily on Bitcoin mining. It develops and operates data-center infrastructure and specialized computing systems used to validate transactions on the Bitcoin network and earn bitcoin rewards.

The company also works on energy-related strategies to support its computing operations, including using energy sources and infrastructure that can help power data centers. Its operations are concentrated in the United States, with expansion into international markets.

Marathon Patent Group, the company’s predecessor, was founded in 2010 and later shifted its focus to digital assets and Bitcoin mining.