MARA (NASDAQ:MARA) Stock Price Down 4.4% – Here’s What Happened

by · The Cerbat Gem

MARA Holdings, Inc. (NASDAQ:MARA – Get Free Report)’s stock price dropped 4.4% on Wednesday . The company traded as low as $23.63 and last traded at $24.13. Approximately 40,684,949 shares were traded during trading, a decline of 25% from the average daily volume of 53,918,383 shares. The stock had previously closed at $25.23.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MARA shares. Macquarie started coverage on shares of MARA in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of MARA in a research note on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Friday, August 23rd. Cantor Fitzgerald started coverage on shares of MARA in a research note on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of MARA in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.57.

Read Our Latest Stock Report on MARA

MARA Stock Performance

The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 30.23 and a beta of 5.52. The firm’s 50-day moving average price is $16.95 and its two-hundred day moving average price is $18.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75.

Insider Activity at MARA

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $292,250.00. Following the completion of the sale, the chief financial officer now owns 2,077,232 shares in the company, valued at approximately $36,351,560. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Frederick G. Thiel sold 27,512 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the transaction, the chief executive officer now directly owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $292,250.00. Following the completion of the transaction, the chief financial officer now owns 2,077,232 shares in the company, valued at approximately $36,351,560. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,417 shares of company stock worth $1,500,486. Corporate insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Truvestments Capital LLC bought a new position in shares of MARA in the third quarter worth approximately $26,000. Beaird Harris Wealth Management LLC grew its position in MARA by 121.1% during the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 695 shares during the last quarter. Larson Financial Group LLC grew its position in MARA by 124.2% during the third quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 1,062 shares during the last quarter. Signaturefd LLC grew its position in MARA by 74.8% during the third quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 1,273 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in MARA during the third quarter valued at approximately $50,000. 44.53% of the stock is currently owned by institutional investors.

MARA Company Profile

(Get Free Report)

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.

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