MARA (NASDAQ:MARA) Shares Up 2.8% – Here’s What Happened

by · The Cerbat Gem

MARA Holdings, Inc. (NASDAQ:MARA – Get Free Report)’s share price traded up 2.8% on Friday . The company traded as high as $12.67 and last traded at $12.66. 19,316,788 shares were traded during trading, a decline of 57% from the average session volume of 45,366,511 shares. The stock had previously closed at $12.32.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MARA shares. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price target on shares of MARA in a research report on Thursday, February 27th. Piper Sandler dropped their price target on MARA from $34.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Barclays lowered their price objective on shares of MARA from $27.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Rosenblatt Securities assumed coverage on shares of MARA in a research report on Friday, March 7th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of MARA from $23.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, MARA presently has a consensus rating of “Hold” and an average target price of $22.80.

Get Our Latest Stock Analysis on MARA

MARA Trading Up 2.8 %

The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00. The business’s 50 day simple moving average is $13.43 and its 200 day simple moving average is $17.56. The stock has a market cap of $4.38 billion, a P/E ratio of 16.03 and a beta of 6.10.

MARA (NASDAQ:MARA – Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The business services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $1.56. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The firm had revenue of $214.39 million for the quarter, compared to analysts’ expectations of $187.11 million. On average, analysts expect that MARA Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Activity at MARA

In related news, 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 transaction of $255,677.00. Following the transaction, the chief financial officer now owns 1,773,788 shares in the company, valued at $27,156,694.28. This represents a 0.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $16.68, for a total transaction of $458,783.40. Following the completion of the sale, 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 disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.

Institutional Trading of MARA

Hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its position in MARA by 307.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider’s stock valued at $729,000 after buying an additional 47,826 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in MARA by 21.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,089,562 shares of the business services provider’s stock valued at $12,530,000 after purchasing an additional 190,558 shares during the period. Avaii Wealth Management LLC grew its position in shares of MARA by 75.2% during the 1st quarter. Avaii Wealth Management LLC now owns 29,678 shares of the business services provider’s stock worth $341,000 after buying an additional 12,737 shares during the period. Matauro LLC raised its stake in shares of MARA by 27.3% during the first quarter. Matauro LLC now owns 278,959 shares of the business services provider’s stock worth $3,208,000 after buying an additional 59,787 shares during the last quarter. Finally, Tobam boosted its stake in MARA by 128.1% in the first quarter. Tobam now owns 23,435 shares of the business services provider’s stock valued at $270,000 after acquiring an additional 13,159 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

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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