MARA (NASDAQ:MARA) Trading 0.4% Higher – Still a Buy?

MARA Holdings, Inc. (NASDAQ:MARA) shares were up 0.4% on Thursday . The stock traded as high as $17.55 and last traded at $17.10. Approximately 10,243,604 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 36,767,145 shares. The stock had previously closed at $17.03.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MARA. Piper Sandler initiated coverage on MARA in a research report on Tuesday, December 17th. They set an “overweight” rating and a $34.00 target price for the company. Compass Point cut MARA from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $21.00 to $25.00 in a report on Thursday, November 21st. HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of MARA in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised shares of MARA from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $12.00 to $23.00 in a research note on Tuesday, December 10th. Finally, Macquarie raised their price target on shares of MARA from $22.00 to $29.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.67.

MARA Price Performance

The stock has a fifty day moving average of $20.46 and a 200 day moving average of $18.83. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 21.18 and a beta of 5.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00.

MARA (NASDAQ:MARA) last issued its earnings results 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). The company had revenue of $131.60 million during the quarter, compared to analysts’ expectations of $140.26 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The firm’s quarterly revenue was up 34.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) EPS. On average, analysts expect that MARA Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $19.80, for a total value of $544,599.00. Following the sale, the chief executive officer now owns 4,155,595 shares in the company, valued at $82,280,781. This trade represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $19.80, for a total transaction of $330,660.00. Following the completion of the transaction, the chief financial officer now directly owns 2,029,647 shares in the company, valued at $40,187,010.60. This represents a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 136,915 shares of company stock worth $2,980,694. Company insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On MARA

A number of hedge funds have recently modified their holdings of MARA. Truvestments Capital LLC purchased a new position in MARA in the 3rd quarter worth approximately $26,000. Beacon Capital Management LLC purchased a new position in MARA during the fourth quarter worth approximately $26,000. Larson Financial Group LLC boosted its stake in MARA by 124.2% during the third quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider’s stock worth $31,000 after buying an additional 1,062 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd grew its holdings in MARA by 79.3% in the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,945 shares of the business services provider’s stock valued at $33,000 after buying an additional 860 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of MARA by 74.8% in the 3rd quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock worth $48,000 after acquiring an additional 1,273 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

About MARA

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.