MARA (NASDAQ:MARA) Trading Up 10.8% – What’s Next?

MARA Holdings (NASDAQ:MARA)’s share price was up 10.8% on Thursday . The stock traded as high as $11.85 and last traded at $11.60. Approximately 68,778,363 shares changed hands during trading, an increase of 49% from the average daily volume of 46,240,227 shares. The stock had previously closed at $10.47.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MARA shares. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 target price on shares of MARA in a research note on Friday, August 7th. Piper Sandler decreased their price target on MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Citizens Jmp assumed coverage on MARA in a research report on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 price target on the stock. Weiss Ratings raised MARA from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. Finally, Cantor Fitzgerald cut their price objective on MARA from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.78.

MARA Trading Up 10.8%

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 market cap of $4.48 billion, a P/E ratio of -1.27 and a beta of 5.32. The business’s fifty day simple moving average is $11.51 and its 200 day simple moving average is $11.18.

MARA (NASDAQ:MARA) last announced its earnings results 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). MARA had a negative return on equity of 26.05% and a negative net margin of 429.71%.The company had revenue of $174.88 million during the quarter, compared to the consensus estimate of $209.44 million. During the same period in the prior year, the firm posted $1.84 earnings per share. The company’s revenue was down 26.7% on a year-over-year basis. As a group, analysts expect that MARA Holdings will post -1.24 EPS for the current year.

Insider Transactions at MARA

In other MARA news, General Counsel Zabi Nowaid sold 8,376 shares of the company’s 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 transaction, the general counsel owned 898,780 shares of the company’s stock, valued at approximately $10,785,360. This represents a 0.92% decrease in their position. The transaction was disclosed in a 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, Director Douglas Mellinger sold 7,000 shares of MARA stock in a transaction on Monday, June 22nd. The shares were 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 of the company’s stock, valued at $3,705,888. This trade represents a 2.93% decrease in their ownership of the stock. 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 a total of 109,386 shares of company stock worth $1,332,889 in the last quarter. 0.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MARA. Vanguard Group Inc. boosted its stake in MARA by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock valued at $419,422,000 after acquiring an additional 1,394,559 shares during the last quarter. State Street Corp grew its stake in shares of MARA by 1.4% during the second quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock worth $210,977,000 after purchasing an additional 191,380 shares during the period. UBS Group AG grew its stake in shares of MARA by 104.1% during the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after purchasing an additional 6,172,110 shares during the period. Marex Group plc increased its holdings in MARA by 2.6% in the fourth 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 during the last quarter. Finally, Geode Capital Management LLC increased its holdings in MARA by 2.6% in the fourth 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 during the last quarter. Institutional investors own 44.53% of the company’s stock.

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.