MARA (NASDAQ:MARA) Issues Quarterly Earnings Results

MARA (NASDAQ:MARA) issued its quarterly earnings results on Tuesday. The business services provider reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04), Briefing.com reports. The business had revenue of $131.60 million for the quarter, compared to analysts’ expectations of $140.26 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The business’s revenue for the quarter was up 34.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) EPS.

MARA Trading Up 0.3 %

MARA stock traded up $0.06 during trading on Friday, reaching $20.85. 19,925,423 shares of the stock traded hands, compared to its average volume of 53,969,723. The business’s 50 day moving average price is $17.23 and its 200-day moving average price is $18.56. The firm has a market capitalization of $6.71 billion, a PE ratio of 25.48 and a beta of 5.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 3.75. MARA has a 52-week low of $9.21 and a 52-week high of $34.09.

Insider Activity

In other news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $481,337.50. Following the completion of the sale, the chief executive officer now owns 4,250,804 shares of the company’s stock, valued at $74,389,070. This represents a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $15.70, for a total value of $262,190.00. Following the sale, the chief financial officer now owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,417 shares of company stock valued at $1,524,546 in the last three months. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of MARA in a report on Wednesday. Macquarie assumed coverage on shares of MARA in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $28.00 target price on shares of MARA in a research report on Wednesday. Cantor Fitzgerald began coverage on shares of MARA in a research note on Thursday, October 10th. They set an “overweight” rating and a $21.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price objective on shares of MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.57.

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.