MARA (NASDAQ:MARA) Stock Price Down 3% – Here’s Why

MARA Holdings, Inc. (NASDAQ:MARA) shares fell 3% during mid-day trading on Friday . The company traded as low as $18.46 and last traded at $18.72. 11,666,480 shares changed hands during trading, a decline of 79% from the average session volume of 56,236,523 shares. The stock had previously closed at $19.30.

Analyst Ratings Changes

A number of brokerages have recently commented on MARA. Macquarie upped their price target on MARA from $22.00 to $29.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 target price on shares of MARA in a research note on Wednesday, December 4th. Piper Sandler initiated coverage on shares of MARA in a research report on Tuesday, December 17th. They set an “overweight” rating and a $34.00 price target on the stock. Compass Point cut shares of MARA from a “buy” rating to a “neutral” rating and upped their price objective for the company from $21.00 to $25.00 in a research report on Thursday, November 21st. Finally, Cantor Fitzgerald assumed coverage on MARA in a report on Thursday, October 10th. They set an “overweight” rating and a $21.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $25.80.

MARA Price Performance

The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 23.38 and a beta of 5.63. The company’s fifty day moving average is $21.58 and its 200 day moving average is $19.33. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22.

MARA (NASDAQ:MARA) last posted its quarterly earnings data on Tuesday, November 12th. The business services provider reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The business had revenue of $131.60 million for the quarter, compared to analyst estimates of $140.26 million. During the same quarter in the prior year, the company earned ($0.05) earnings per share. The company’s quarterly revenue was up 34.4% on a year-over-year basis. On average, equities research analysts predict that MARA Holdings, Inc. will post -1.02 EPS for the current year.

Insider Transactions at MARA

In other news, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $292,250.00. Following the transaction, the chief financial officer now directly owns 2,077,232 shares in the company, valued at $36,351,560. The trade was a 0.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jay P. Leupp sold 6,800 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.90, for a total transaction of $203,320.00. Following the completion of the sale, the director now owns 135,756 shares of the company’s stock, valued at $4,059,104.40. This trade represents a 4.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,615 shares of company stock worth $3,258,686 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On MARA

Institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC boosted its stake in shares of MARA by 27.7% during the 3rd quarter. Private Advisor Group LLC now owns 226,199 shares of the business services provider’s stock worth $3,669,000 after acquiring an additional 49,062 shares during the period. Charles Schwab Investment Management Inc. boosted its position in MARA by 8.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,656,363 shares of the business services provider’s stock worth $43,086,000 after purchasing an additional 217,106 shares during the period. Mutual of America Capital Management LLC increased its holdings in shares of MARA by 112.4% in the third quarter. Mutual of America Capital Management LLC now owns 203,975 shares of the business services provider’s stock valued at $3,308,000 after purchasing an additional 107,963 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of MARA in the third quarter valued at $640,000. Finally, Weiss Asset Management LP bought a new position in shares of MARA in the third quarter valued at about $1,557,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

MARA Company Profile

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.