MARA (NASDAQ:MARA) Trading Up 5.8% – Here’s Why

by · The Markets Daily

MARA Holdings, Inc. (NASDAQ:MARA – Get Free Report) shares shot up 5.8% during trading on Wednesday . The company traded as high as $12.48 and last traded at $12.52. 14,872,223 shares were traded during trading, a decline of 67% from the average session volume of 45,316,920 shares. The stock had previously closed at $11.84.

Wall Street Analyst Weigh In

MARA has been the subject of several analyst reports. B. Riley increased their price objective on MARA from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Rosenblatt Securities assumed coverage on MARA in a research note on Friday, March 7th. They set a “buy” rating and a $19.00 price objective on the stock. Piper Sandler cut their price objective on shares of MARA from $34.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of MARA in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. cut their price target on shares of MARA from $23.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.80.

Check Out Our Latest Stock Report on MARA

MARA Trading Up 0.6 %

The firm has a market cap of $3.91 billion, a PE ratio of 14.30 and a beta of 6.09. The firm has a 50 day moving average of $14.88 and a 200 day moving average of $17.93. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22.

MARA (NASDAQ:MARA – Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The business services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of ($0.32) by $1.56. The company had revenue of $214.39 million during the quarter, compared to analyst estimates of $187.11 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. Equities analysts anticipate that MARA Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Activity

In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $16.68, for a total transaction of $458,783.40. Following the completion of the transaction, the chief executive officer now owns 3,910,843 shares of the company’s stock, valued at $65,232,861.24. The trade was a 0.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.31, for a total value of $255,677.00. Following the sale, the chief financial officer now owns 1,773,788 shares in the company, valued at approximately $27,156,694.28. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,710 shares of company stock valued at $1,226,825 over the last quarter. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On MARA

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of MARA by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider’s stock valued at $650,390,000 after purchasing an additional 2,706,271 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of MARA by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 7,675,994 shares of the business services provider’s stock worth $128,755,000 after purchasing an additional 518,503 shares in the last quarter. American Century Companies Inc. increased its position in shares of MARA by 44.3% in the fourth quarter. American Century Companies Inc. now owns 4,039,871 shares of the business services provider’s stock worth $67,749,000 after purchasing an additional 1,240,354 shares during the last quarter. Northern Trust Corp raised its stake in MARA by 18.1% in the fourth quarter. Northern Trust Corp now owns 3,293,531 shares of the business services provider’s stock valued at $55,233,000 after purchasing an additional 504,142 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in MARA by 14.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,028,457 shares of the business services provider’s stock valued at $50,787,000 after purchasing an additional 372,094 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

About MARA

(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.

Recommended Stories