Brokerages Set MARA Holdings (NASDAQ:MARA) Target Price at $18.78

Shares of MARA Holdings (NASDAQ:MARA) have been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $18.7778.

MARA has been the topic of several research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 target price on shares of MARA in a report on Friday, August 7th. Citizens Jmp assumed coverage on MARA in a research note on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 price target for the company. Cantor Fitzgerald cut 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. BTIG Research reaffirmed a “buy” rating and issued a $27.00 price objective on shares of MARA in a research note on Monday, June 1st. Finally, Piper Sandler decreased their price objective on MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, July 17th.

MARA Price Performance

MARA stock opened at $11.22 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 0.89. The company’s fifty day moving average price is $11.87 and its 200-day moving average price is $11.07. MARA has a one year low of $6.66 and a one year high of $23.45. The company has a market capitalization of $4.33 billion, a PE ratio of -1.22 and a beta of 5.40.

MARA (NASDAQ:MARA) last posted its earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($1.77). The company had revenue of $174.88 million for the quarter, compared to analysts’ expectations of $209.44 million. MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The business’s revenue was down 26.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.84 earnings per share. On average, equities analysts anticipate that MARA will post -1.24 EPS for the current fiscal year.

Insider Buying and Selling at MARA

In related news, General Counsel Zabi Nowaid sold 8,376 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $12.00, for a total transaction of $100,512.00. Following the sale, the general counsel owned 898,780 shares of the company’s stock, valued at $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 is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas K. Mellinger sold 7,000 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $16.00, for a total transaction of $112,000.00. Following the transaction, the director owned 231,618 shares of the company’s stock, valued at $3,705,888. This trade represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 109,386 shares of company stock valued at $1,332,889. 0.97% of the stock is owned by company insiders.

Institutional Trading of MARA

Hedge funds have recently made changes to their positions in the business. Amundi grew its position in MARA by 6.1% in the second quarter. Amundi now owns 56,679 shares of the business services provider’s stock worth $787,000 after acquiring an additional 3,254 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in MARA during the second quarter valued at approximately $333,000. California State Teachers Retirement System raised its position in MARA by 1,266.3% during the second quarter. California State Teachers Retirement System now owns 5,629,700 shares of the business services provider’s stock valued at $78,197,000 after purchasing an additional 5,217,648 shares during the period. HB Wealth Management LLC bought a new stake in shares of MARA in the 2nd quarter valued at approximately $185,000. Finally, Chokshi & Queen Wealth Advisors Inc lifted its stake in shares of MARA by 233.0% in the 2nd quarter. Chokshi & Queen Wealth Advisors Inc now owns 36,400 shares of the business services provider’s stock valued at $506,000 after purchasing an additional 25,470 shares during the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

MARA Company Profile

MARA Holdings, Inc is an energy and digital infrastructure company whose core business is Bitcoin mining. Headquartered in Hallandale Beach, Florida, the company operates large-scale computing infrastructure designed to convert energy into high-value compute workloads.