MARA (NASDAQ:MARA) Shares Up 4.9% – Still a Buy?

Shares of MARA Holdings, Inc. (NASDAQ:MARA) shot up 4.9% on Wednesday . The company traded as high as $24.61 and last traded at $23.92. 22,243,664 shares were traded during mid-day trading, a decline of 61% from the average session volume of 56,745,008 shares. The stock had previously closed at $22.81.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MARA. JPMorgan Chase & Co. raised shares of MARA from an “underweight” rating to a “neutral” rating and raised their target price for the company from $12.00 to $23.00 in a report on Tuesday. Cantor Fitzgerald initiated coverage on shares of MARA in a report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 target price for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of MARA in a research note on Wednesday, November 13th. Macquarie lifted their price objective 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. Finally, Compass Point lowered shares of MARA from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $21.00 to $25.00 in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.56.

MARA Price Performance

The firm has a 50 day simple moving average of $20.32 and a 200-day simple moving average of $19.21. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The company has a market cap of $7.52 billion, a PE ratio of 30.28 and a beta of 5.63.

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

Insider Transactions at MARA

In related news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $36,351,560. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. This represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,622 shares of company stock worth $2,906,197. Insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Financial Advocates Investment Management lifted its holdings in MARA by 5.2% in the third quarter. Financial Advocates Investment Management now owns 14,201 shares of the business services provider’s stock valued at $230,000 after acquiring an additional 700 shares during the period. Ranch Capital Advisors Inc. raised its stake in shares of MARA by 6.1% during the 2nd quarter. Ranch Capital Advisors Inc. now owns 13,532 shares of the business services provider’s stock worth $269,000 after buying an additional 780 shares during the period. Larson Financial Group LLC raised its stake in shares of MARA by 124.2% during the 3rd 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 period. Crossmark Global Holdings Inc. raised its stake in shares of MARA by 6.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 18,879 shares of the business services provider’s stock worth $306,000 after buying an additional 1,170 shares during the period. Finally, Signaturefd LLC raised its stake in shares of MARA by 74.8% during the 3rd quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock worth $48,000 after buying an additional 1,273 shares during the period. 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.