MARA (NASDAQ:MARA) Trading Up 5.7% on Analyst Upgrade

MARA Holdings, Inc. (NASDAQ:MARA)’s share price shot up 5.7% on Tuesday after Macquarie raised their price target on the stock from $22.00 to $29.00. Macquarie currently has an outperform rating on the stock. MARA traded as high as $19.32 and last traded at $19.13. 18,150,166 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 54,225,238 shares. The stock had previously closed at $18.10.

Several other brokerages have also recently issued reports on MARA. JPMorgan Chase & Co. dropped their target price on MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. HC Wainwright reissued a “buy” rating and issued a $28.00 price target on shares of MARA in a report on Wednesday, November 13th. Needham & Company LLC reiterated a “hold” rating on shares of MARA in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald began coverage on shares of MARA in a research note on Thursday, October 10th. They set an “overweight” rating and a $21.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, MARA currently has an average rating of “Hold” and a consensus target price of $22.57.

Insider Activity at MARA

In other news, CEO Frederick G. Thiel sold 27,512 shares of MARA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the sale, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. The trade was a 0.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $292,250.00. Following the completion of the transaction, the chief financial officer now owns 2,077,232 shares in the company, valued at $36,351,560. This represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,417 shares of company stock worth $1,524,546. 0.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MARA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of MARA by 1.9% in the first quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock valued at $540,002,000 after purchasing an additional 441,455 shares during the period. Geode Capital Management LLC increased its stake in MARA by 5.6% during the third quarter. Geode Capital Management LLC now owns 7,157,491 shares of the business services provider’s stock worth $116,115,000 after acquiring an additional 378,542 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of MARA by 261.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after acquiring an additional 2,340,472 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in MARA by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,656,363 shares of the business services provider’s stock worth $43,086,000 after acquiring an additional 217,106 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in MARA by 186.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock valued at $40,485,000 after buying an additional 1,327,969 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

MARA Trading Up 5.7 %

The business’s 50 day moving average is $17.38 and its 200-day moving average is $18.61. The firm has a market cap of $6.16 billion, a P/E ratio of 24.22 and a beta of 5.52. 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 issued its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.04). The company had revenue of $131.60 million during the quarter, compared to analyst estimates of $140.26 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. MARA’s quarterly revenue was up 34.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) earnings per share. As a group, analysts forecast that MARA Holdings, Inc. will post -0.72 earnings per share for the current fiscal year.

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.