MARA (NASDAQ:MARA) Stock Price Up 1.4% – Here’s What Happened

MARA Holdings (NASDAQ:MARA) shares traded up 1.4% during mid-day trading on Tuesday. The stock traded as high as $7.83 and last traded at $7.48. Approximately 36,396,340 shares changed hands during trading, a decline of 20% from the average session volume of 45,432,770 shares. The stock had previously closed at $7.38.

Key MARA News

Here are the key news stories impacting MARA this week:

• Positive Sentiment: Piper Sandler reduced its price target for MARA Holdings but maintained an Overweight rating. The continued bullish rating suggests the analyst still sees long-term upside despite the reversal in the AI trade, hotter inflation, and higher borrowing costs. MARA, RIOT, HUT, GLXY See Price Cuts From Piper Sandler Amid AI Trade Reversal, Hotter Inflation, Pricier Debt
• Neutral Sentiment: MARA-linked wallets transferred approximately 1,000 Bitcoin, worth about $82.8 million, to Binance and Gate. Exchange deposits can precede selling, but the transactions do not confirm that MARA sold the coins. Any confirmed liquidation would likely pressure the stock, while retaining the Bitcoin would reduce that concern. MARA-Linked Wallets Send 1,000 Bitcoin To Exchanges, But A Sale Is Unconfirmed
• Negative Sentiment: MARA mined 2,422 Bitcoin in the second quarter, but revenue declined 27% to $174.9 million because the average value of mined coins was lower. The weak results, including a sizable earnings miss, underscore pressure on profitability and help explain management’s push to diversify beyond Bitcoin mining. MARA Holdings Mined More Bitcoin, but Revenue Fell 27%
• Negative Sentiment: Bitcoin-mining difficulty increased 5.9% while Bitcoin weakened, creating a double squeeze on miners’ revenue and margins. In addition, Strive expanded its Bitcoin treasury to 36,818 BTC, moving ahead of MARA in publicly reported holdings and increasing competitive pressure for investor attention. Bitcoin Mining Just Got 6% Harder While BTC Fell

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings raised shares of MARA from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, August 21st. HC Wainwright assumed coverage on MARA in a research report on Friday, September 11th. They issued a “buy” rating and a $20.00 price objective for the company. Morgan Stanley set a $10.00 price objective on MARA and gave the company an “underweight” rating in a research report on Friday, October 9th. Cantor Fitzgerald dropped their target price on MARA from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price target on shares of MARA in a research note on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $18.90.

MARA Trading Up 1.4%

The business’s fifty day moving average is $10.85 and its 200-day moving average is $11.79. The stock has a market capitalization of $2.89 billion, a PE ratio of -0.82 and a beta of 5.33. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.15.

MARA (NASDAQ:MARA) last issued its quarterly earnings results 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 company had revenue of $174.88 million for the quarter, compared to analyst estimates of $209.44 million. MARA had a negative return on equity of 26.05% and a negative net margin of 429.71%. The business’s revenue for the quarter was down 26.7% on a year-over-year basis. During the same period last year, the company posted $1.84 EPS. As a group, analysts anticipate that MARA Holdings will post -1.65 EPS for the current fiscal year.

Insider Activity

In related news, CFO Salman Khan sold 16,000 shares of MARA stock in a transaction on Monday, August 17th. The stock was sold at an average price of $9.21, for a total value of $147,360.00. Following the transaction, the chief financial officer owned 377,066 shares in the company, valued at approximately $3,472,777.86. This trade represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $11.22, for a total value of $308,606.10. Following the sale, the chief executive officer directly owned 4,217,586 shares of the company’s stock, valued at approximately $47,321,314.92. This trade represents a 0.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 106,891 shares of company stock valued at $1,124,731 in the last ninety days. Company insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On MARA

A number of large investors have recently modified their holdings of MARA. Principal Financial Group Inc. lifted its stake in shares of MARA by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,838,149 shares of the business services provider’s stock valued at $14,999,000 after purchasing an additional 35,978 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of MARA by 11.5% during the 1st quarter. Hsbc Holdings PLC now owns 634,172 shares of the business services provider’s stock worth $5,099,000 after purchasing an additional 65,220 shares during the period. Delta Global Management LP purchased a new stake in shares of MARA during the 1st quarter worth about $5,064,000. Compass Rose Asset Management LP acquired a new stake in MARA during the 1st quarter worth approximately $4,243,000. Finally, Headlands Technologies LLC increased its position in MARA by 51.2% during the 2nd quarter. Headlands Technologies LLC now owns 444,756 shares of the business services provider’s stock worth $6,178,000 after purchasing an additional 150,665 shares in the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

About MARA

MARA Holdings, Inc (NASDAQ: MARA), formerly known as Marathon Digital Holdings, is a digital asset mining and energy infrastructure company. Its primary business is securing the Bitcoin network by operating specialized computing equipment that validates transactions and earns Bitcoin rewards.

The company develops and operates data centers and digital asset computing infrastructure, while also pursuing strategies to access low-cost and surplus energy. MARA has expanded its operations through a combination of owned facilities, hosting arrangements and acquisitions, with activities spanning North America and other international markets.

The company was founded in 2010 as Marathon Patent Group and later shifted its focus toward cryptocurrency mining before adopting the Marathon Digital name.