MARA (NASDAQ:MARA) Shares Down 3.5% – Should You Sell?

Shares of MARA Holdings (NASDAQ:MARA) were down 3.5% on Tuesday. The company traded as low as $8.98 and last traded at $9.11. 35,992,394 shares changed hands during trading, a decline of 21% from the average daily volume of 45,657,492 shares. The stock had previously closed at $9.44.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings raised MARA from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Piper Sandler lowered their price objective on MARA from $16.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Cantor Fitzgerald dropped their price objective on MARA from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 7th. HC Wainwright initiated coverage on MARA in a report on Friday, September 11th. They set a “buy” rating and a $20.00 price objective for the company. Finally, Citizens Jmp started coverage on shares of MARA in a research report on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, MARA currently has an average rating of “Hold” and an average price target of $19.10.

MARA Stock Down 3.5%

The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of -0.99 and a beta of 5.33. The business’s 50-day moving average is $11.10 and its two-hundred day moving average is $11.79. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 0.89.

MARA (NASDAQ:MARA) last issued its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($1.77). The firm had revenue of $174.88 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 26.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.84 EPS. On average, equities analysts anticipate that MARA Holdings will post -1.65 earnings per share for the current year.

Insider Transactions at MARA

In other news, General Counsel Zabi Nowaid sold 8,376 shares of MARA stock in a transaction on Friday, August 21st. The shares were 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. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick Thiel sold 27,505 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $11.22, for a total transaction of $308,606.10. Following the completion of the transaction, the chief executive officer directly owned 4,217,586 shares of the company’s stock, valued at $47,321,314.92. This trade represents a 0.65% decrease in their position. 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 have sold a total of 106,891 shares of company stock valued at $1,124,731 over the last three months. 0.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MARA

Large investors have recently modified their holdings of the business. IFP Advisors Inc raised its position in shares of MARA by 1,154.9% during the second quarter. IFP Advisors Inc now owns 2,422 shares of the business services provider’s stock worth $34,000 after purchasing an additional 2,229 shares during the period. Ascentis Independent Advisors bought a new position in shares of MARA during the 1st quarter valued at about $28,000. CoreCap Advisors LLC grew its position in shares of MARA by 128.0% in the 2nd quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 2,050 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in shares of MARA by 58.2% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 4,009 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 1,475 shares during the period. Finally, Bogart Wealth LLC grew its position in shares of MARA by 4,345.1% in the 1st quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 3,954 shares during the period. 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 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.