MARA (NASDAQ:MARA) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of MARA (NASDAQ:MARA) in a research note released on Wednesday,Benzinga reports.

Several other analysts have also recently weighed in on MARA. JPMorgan Chase & Co. reduced their price target on MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Macquarie initiated coverage on shares of MARA in a report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of MARA in a research note on Wednesday. Finally, Cantor Fitzgerald assumed coverage on shares of MARA in a report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.57.

MARA Price Performance

Shares of NASDAQ:MARA opened at $21.07 on Wednesday. The firm has a 50 day simple moving average of $17.38 and a 200 day simple moving average of $18.60. The company has a market cap of $6.78 billion, a price-to-earnings ratio of 26.67 and a beta of 5.52. MARA has a one year low of $9.21 and a one year high of $34.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 3.75.

MARA (NASDAQ:MARA) last announced its quarterly 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). MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The firm had revenue of $131.60 million during the quarter, compared to the consensus estimate of $140.26 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The firm’s revenue was up 34.4% on a year-over-year basis. Research analysts predict that MARA will post -1.05 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the transaction, the chief executive officer now owns 4,278,309 shares in the company, valued at $67,169,451.30. The trade was a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $292,250.00. Following the sale, the chief financial officer now owns 2,077,232 shares of the company’s stock, valued at approximately $36,351,560. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,417 shares of company stock valued at $1,524,546. 0.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MARA

Several institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in shares of MARA by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 7,157,491 shares of the business services provider’s stock worth $116,115,000 after buying an additional 378,542 shares during the period. M&T Bank Corp grew its holdings in MARA by 14.1% in the third quarter. M&T Bank Corp now owns 19,571 shares of the business services provider’s stock worth $317,000 after purchasing an additional 2,418 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in MARA in the third quarter valued at $1,072,000. Vienna Asset Management LLC acquired a new position in shares of MARA during the third quarter valued at about $291,000. Finally, Wellington Management Group LLP boosted its position in shares of MARA by 12.4% during the 3rd quarter. Wellington Management Group LLP now owns 39,231 shares of the business services provider’s stock worth $636,000 after purchasing an additional 4,334 shares in the last quarter. 44.53% of the stock is 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.