MARA (NASDAQ:MARA) Trading Down 1.9% – Here’s Why

Shares of MARA Holdings, Inc. (NASDAQ:MARA) dropped 1.9% on Wednesday . The company traded as low as $12.22 and last traded at $12.34. Approximately 7,396,666 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 45,336,375 shares. The stock had previously closed at $12.58.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Barclays decreased their price target 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. JPMorgan Chase & Co. dropped their price target on shares of MARA from $23.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of MARA in a research note on Thursday, February 27th. Rosenblatt Securities started coverage on MARA in a research report on Friday, March 7th. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, Piper Sandler lowered their target price on shares of MARA from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $22.80.

MARA Trading Up 2.8 %

The stock has a 50-day moving average of $13.43 and a 200 day moving average of $17.56. The stock has a market cap of $4.38 billion, a PE ratio of 16.03 and a beta of 6.10. 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) last posted its quarterly earnings results on Wednesday, February 26th. The business services provider reported $1.24 EPS for the quarter, beating the consensus estimate of ($0.32) by $1.56. The company had revenue of $214.39 million for the quarter, compared to analyst estimates of $187.11 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. As a group, sell-side analysts anticipate that MARA Holdings, Inc. will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 16,700 shares of the business’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 completion of the sale, the chief financial officer now owns 1,773,788 shares of the company’s stock, valued at $27,156,694.28. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction, the chief executive officer now directly owns 3,910,843 shares in the company, valued at $65,232,861.24. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On MARA

Several hedge funds and other institutional investors have recently made changes to their positions in the company. 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 valued at $650,390,000 after purchasing an additional 2,706,271 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of MARA by 7.2% in 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 buying an additional 518,503 shares in the last quarter. American Century Companies Inc. boosted its position in MARA by 44.3% during 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 acquiring an additional 1,240,354 shares during the last quarter. Northern Trust Corp grew its stake in MARA by 18.1% during the 4th quarter. Northern Trust Corp now owns 3,293,531 shares of the business services provider’s stock valued at $55,233,000 after acquiring an additional 504,142 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in MARA by 14.0% in the 4th 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 acquiring an additional 372,094 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

About MARA

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.