MARA (NASDAQ:MARA) Trading 2.3% Higher – Time to Buy?

MARA Holdings (NASDAQ:MARA) was up 2.3% during trading on Wednesday . The company traded as high as $10.53 and last traded at $10.47. 29,859,446 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 46,105,336 shares. The stock had previously closed at $10.23.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MARA shares. Cantor Fitzgerald cut their price objective on shares of MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Piper Sandler lowered their price objective on MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Morgan Stanley boosted their price objective on shares of MARA from $5.50 to $6.00 and gave the company an “underweight” rating in a report on Thursday, August 13th. Weiss Ratings raised MARA from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 price objective on shares of MARA in a report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, MARA has a consensus rating of “Moderate Buy” and a consensus target price of $18.78.

MARA Stock Performance

The business’s fifty day moving average is $11.46 and its 200-day moving average is $11.21. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.15. The company has a market cap of $4.48 billion, a PE ratio of -1.27 and a beta of 5.32.

MARA (NASDAQ:MARA) last announced its earnings results on Thursday, August 6th. The business services provider reported ($1.60) EPS 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 analysts’ expectations of $209.44 million. MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The firm’s quarterly revenue was down 26.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 earnings per share. As a group, research analysts predict that MARA Holdings will post -1.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Zabi Nowaid sold 8,376 shares of MARA stock in a transaction dated 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Khan sold 16,000 shares of the firm’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 sale, the chief financial officer owned 377,066 shares in the company, valued at approximately $3,472,777.86. The trade was a 4.07% 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. Over the last quarter, insiders have sold 109,386 shares of company stock valued at $1,332,889. Company insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On MARA

Several large investors have recently made changes to their positions in the business. UBS Group AG grew its position 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 in the last quarter. California State Teachers Retirement System lifted its holdings in MARA by 1,266.3% in the 2nd quarter. California State Teachers Retirement System now owns 5,629,700 shares of the business services provider’s stock worth $78,197,000 after purchasing an additional 5,217,648 shares in the last quarter. Voloridge Investment Management LLC bought a new position in MARA in the 3rd quarter worth approximately $93,066,000. Norges Bank bought a new position in MARA in the 4th quarter worth approximately $39,492,000. Finally, Van ECK Associates Corp grew its holdings in MARA by 125.4% during the 4th quarter. Van ECK Associates Corp now owns 2,727,069 shares of the business services provider’s stock valued at $24,489,000 after buying an additional 1,516,937 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 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.