MARA (NASDAQ:MARA) Stock Price Down 2.4% – Here’s What Happened

MARA Holdings, Inc. (NASDAQ:MARA) shares dropped 2.4% on Wednesday . The company traded as low as $13.57 and last traded at $13.91. Approximately 11,003,975 shares traded hands during trading, a decline of 76% from the average daily volume of 45,625,362 shares. The stock had previously closed at $14.25.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. B. Riley upped their target price on MARA from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Needham & Company LLC restated a “hold” rating on shares of MARA in a research report on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and set a $28.00 price objective on shares of MARA in a research report on Thursday, February 27th. Barclays reduced their target price on shares of MARA from $27.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Finally, Rosenblatt Securities initiated coverage on shares of MARA in a report on Friday, March 7th. They set a “buy” rating and a $19.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.80.

MARA Trading Down 8.6 %

The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $4.31 billion, a PE ratio of 15.78 and a beta of 5.95. The business’s fifty day moving average is $15.67 and its 200-day moving average is $18.06.

MARA (NASDAQ:MARA) last released its quarterly earnings data on Wednesday, February 26th. The business services provider reported $1.24 EPS for the quarter, topping 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 business had revenue of $214.39 million during the quarter, compared to the consensus estimate of $187.11 million. As a group, analysts anticipate that MARA Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.31, for a total transaction of $255,677.00. Following the completion of the sale, the chief financial officer now directly owns 1,773,788 shares of the company’s stock, valued at approximately $27,156,694.28. This represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 value of $458,783.40. Following the completion of the transaction, the chief executive officer now directly owns 3,910,843 shares in the company, valued at $65,232,861.24. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,710 shares of company stock valued at $1,226,825. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MARA

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of MARA during the fourth quarter worth $46,413,000. Vanguard Group Inc. lifted its holdings in MARA by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider’s stock worth $650,390,000 after buying an additional 2,706,271 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in MARA by 192.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,897,200 shares of the business services provider’s stock worth $31,817,000 after buying an additional 1,248,292 shares in the last quarter. American Century Companies Inc. boosted its position in MARA by 44.3% in the 4th quarter. American Century Companies Inc. now owns 4,039,871 shares of the business services provider’s stock valued at $67,749,000 after buying an additional 1,240,354 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of MARA during the fourth quarter valued at about $13,416,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

MARA Company Profile

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.