MARA (NASDAQ:MARA) Shares Down 2.5% – Time to Sell?

MARA Holdings (NASDAQ:MARA)’s stock price dropped 2.5% during trading on Friday . The stock traded as low as $11.19 and last traded at $11.31. Approximately 37,007,222 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 46,187,984 shares. The stock had previously closed at $11.60.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MARA shares. Citizens Jmp initiated coverage on shares of MARA in a research report on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 price target on the stock. BTIG Research restated a “buy” rating and issued a $27.00 price objective on shares of MARA in a report on Monday, June 1st. Cantor Fitzgerald cut their price objective on MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Weiss Ratings raised MARA from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Finally, Morgan Stanley increased their target price on MARA from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, August 13th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.78.

MARA Stock Performance

The company has a market capitalization of $4.37 billion, a P/E ratio of -1.23 and a beta of 5.32. The company’s 50 day moving average is $11.46 and its 200-day moving average is $11.21. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15.

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

Insider Buying and Selling at MARA

In other news, General Counsel Zabi Nowaid sold 8,376 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $12.00, for a total value of $100,512.00. Following the sale, the general counsel directly owned 898,780 shares of the company’s stock, valued at $10,785,360. The trade was a 0.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas Mellinger sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $16.00, for a total value of $112,000.00. Following the completion of the sale, the director directly owned 231,618 shares in the company, valued at approximately $3,705,888. This represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 109,386 shares of company stock valued at $1,332,889 over the last ninety days. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On MARA

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of MARA by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock worth $419,422,000 after purchasing an additional 1,394,559 shares during the last quarter. State Street Corp grew its position in MARA by 1.4% during the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock valued at $210,977,000 after purchasing an additional 191,380 shares during the last quarter. UBS Group AG grew its position in MARA by 104.1% during the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock valued at $220,922,000 after purchasing an additional 6,172,110 shares during the last quarter. Marex Group plc increased its stake in MARA by 2.6% during the 4th quarter. Marex Group plc now owns 10,137,713 shares of the business services provider’s stock valued at $91,037,000 after purchasing an additional 259,210 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in MARA by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock valued at $89,434,000 after purchasing an additional 251,674 shares in the last quarter. 44.53% of the stock is 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.