MARA (NASDAQ:MARA) Stock Falls 2% – Should You Sell?

by · The Markets Daily

MARA Holdings (NASDAQ:MARA – Get Free Report) was down 2% during mid-day trading on Monday. The stock traded as low as $7.31 and last traded at $7.38. Approximately 28,977,231 shares were traded during trading, a decline of 36% from the average session volume of 45,494,590 shares. The stock had previously closed at $7.53.

Wall Street Analyst Weigh In

A number of research firms have commented on MARA. Citizens Jmp started coverage on MARA in a report on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 target price on the stock. Cantor Fitzgerald lowered their price target on MARA from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Piper Sandler reiterated an “overweight” rating and issued a $11.00 price target (down from $13.00) on shares of MARA in a report on Tuesday. HC Wainwright assumed coverage on MARA in a research report on Friday, September 11th. They set a “buy” rating and a $20.00 price target on the stock. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $11.00 price target (down from $13.00) on shares of MARA in a research report on Monday, September 14th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, MARA presently has an average rating of “Hold” and an average target price of $18.90.

Get Our Latest Analysis on MARA

MARA Stock Performance

The stock’s 50-day moving average price is $10.80 and its 200-day moving average price is $11.78. 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 company has a market capitalization of $2.89 billion, a P/E ratio of -0.82 and a beta of 5.33.

MARA (NASDAQ:MARA – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($1.77). The business had revenue of $174.88 million for the quarter, compared to the consensus estimate of $209.44 million. MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. MARA’s quarterly revenue was down 26.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.84 EPS. As a group, equities analysts expect that MARA Holdings will post -1.65 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Zabi Nowaid sold 8,376 shares of the company’s 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 transaction, the general counsel directly owned 898,780 shares of the company’s stock, valued at approximately $10,785,360. This represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 value of $147,360.00. Following the sale, the chief financial officer owned 377,066 shares in the company, valued at $3,472,777.86. The trade was a 4.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 106,891 shares of company stock valued at $1,124,731 over the last quarter. Insiders own 0.97% of the company’s stock.

Institutional Trading of MARA

Several hedge funds have recently made changes to their positions in the stock. Delta Global Management LP bought a new position in shares of MARA during the first quarter worth about $5,064,000. Hsbc Holdings PLC bought a new stake in MARA in the 4th quarter valued at about $5,220,000. Compass Rose Asset Management LP bought a new stake in MARA in the 1st quarter valued at about $4,243,000. Compass Financial Management LLC bought a new stake in MARA in the 2nd quarter valued at about $6,000,000. Finally, Edgestream Partners L.P. acquired a new position in MARA during the 1st quarter valued at about $2,864,000. Institutional investors own 44.53% of the company’s stock.

About MARA

(Get Free Report)

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.

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