MARA (NASDAQ:MARA) Stock Falls 1.1% – What’s Next?

Shares of MARA Holdings (NASDAQ:MARA) traded down 1.1% on Thursday. The stock traded as low as $10.91 and last traded at $11.21. 30,230,171 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 46,096,117 shares. The stock had previously closed at $11.33.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MARA shares. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $11.00 target price (down from $13.00) on shares of MARA in a research note on Monday, September 14th. Cantor Fitzgerald cut their price target on shares of MARA from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Citizens Jmp started coverage on shares of MARA in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $24.00 price target on the stock. Piper Sandler lowered their price objective on shares of MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Finally, Rosenblatt Securities restated a “buy” rating and set a $15.00 price objective on shares of MARA in a research report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.20.

MARA Trading Up 0.2%

The company has a market capitalization of $4.34 billion, a PE ratio of -1.23 and a beta of 5.33. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15. The stock has a fifty day moving average of $11.23 and a two-hundred day moving average of $11.71.

MARA (NASDAQ:MARA) last issued its earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($1.77). MARA had a negative return on equity of 26.05% and a negative net margin of 429.71%.The firm had revenue of $174.88 million during the quarter, compared to analysts’ expectations of $209.44 million. During the same period in the prior year, the company earned $1.84 EPS. The firm’s quarterly revenue was down 26.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that MARA Holdings will post -1.65 earnings per share for the current fiscal year.

Insider Transactions at MARA

In related news, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $11.22, for a total value of $308,606.10. Following the transaction, the chief executive officer owned 4,217,586 shares in the company, valued at $47,321,314.92. This trade represents a 0.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 8,376 shares of MARA stock in a transaction on Friday, August 21st. The stock was sold at an average price of $12.00, for a total transaction of $100,512.00. Following the completion of the transaction, the general counsel owned 898,780 shares in the company, valued at approximately $10,785,360. The trade was a 0.92% 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 106,891 shares of company stock worth $1,124,731. 0.97% of the stock is currently owned by insiders.

Institutional Trading of MARA

Institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC purchased a new position in shares of MARA in the second quarter worth $161,000. WINTON GROUP Ltd purchased a new stake in MARA during the 2nd quarter valued at $3,545,000. Engineers Gate Manager LP purchased a new stake in MARA during the 2nd quarter valued at $1,177,000. NewEdge Advisors LLC boosted its position in MARA by 14.9% during the 2nd quarter. NewEdge Advisors LLC now owns 12,320 shares of the business services provider’s stock valued at $171,000 after buying an additional 1,598 shares during the period. Finally, IFP Advisors Inc grew its holdings in MARA by 1,154.9% in the 2nd quarter. IFP Advisors Inc now owns 2,422 shares of the business services provider’s stock worth $34,000 after acquiring an additional 2,229 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 (NASDAQ: MARA), formerly known as Marathon Digital Holdings, is a digital asset technology company focused primarily on mining bitcoin. The company operates specialized data centers containing application-specific integrated circuit (ASIC) computers that process transactions and secure the Bitcoin network in exchange for bitcoin rewards.

In addition to bitcoin mining, MARA develops and operates digital asset computing infrastructure. Its activities include managing energy and data-center resources, deploying mining hardware, and pursuing technologies designed to improve the efficiency and scalability of digital asset mining.