MARA (NASDAQ:MARA) Stock Jumps 3.7% – What’s Next?

MARA Holdings (NASDAQ:MARA)’s stock price shot up 3.7% during trading on Tuesday. The company traded as high as $7.32 and last traded at $7.09. Approximately 37,169,831 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 45,193,914 shares. The stock had previously closed at $6.84.

Analyst Ratings Changes

MARA has been the subject of several research analyst reports. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $11.00 price objective (down from $13.00) on shares of MARA in a report on Monday, September 14th. HC Wainwright assumed coverage on MARA in a report on Friday, September 11th. They set a “buy” rating and a $20.00 target price on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 target price on shares of MARA in a research report on Friday, August 7th. Morgan Stanley set a $10.00 price target on MARA and gave the company an “underweight” rating in a report on Friday, October 9th. Finally, Weiss Ratings lowered MARA from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday. Seven equities research analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.78.

MARA Stock Performance

The stock’s 50-day moving average price is $10.60 and its 200-day moving average price is $10.85. 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 company has a market capitalization of $2.74 billion, a P/E ratio of -0.77 and a beta of 5.33.

MARA (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 429.71% and a negative return on equity of 26.05%. MARA’s quarterly revenue was down 26.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.84 EPS. As a group, equities analysts expect that MARA Holdings will post -1.65 EPS for the current year.

Insider Buying and Selling at MARA

In other news, CFO Salman Khan sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $9.21, for a total transaction of $147,360.00. Following the completion of the transaction, the chief financial officer directly owned 377,066 shares of the company’s stock, valued at approximately $3,472,777.86. This represents a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, General Counsel Zabi Nowaid sold 8,376 shares of the 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 owned 898,780 shares in the company, valued at $10,785,360. The trade was a 0.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 106,891 shares of company stock worth $1,124,731 over the last ninety days. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On MARA

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

MARA Company Profile

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.