MARA (NASDAQ:MARA) Shares Up 8.3% – Here’s Why

Shares of MARA Holdings, Inc. (NASDAQ:MARA) shot up 8.3% during mid-day trading on Monday . The company traded as high as $25.04 and last traded at $24.61. 24,440,547 shares changed hands during trading, a decline of 57% from the average session volume of 56,646,977 shares. The stock had previously closed at $22.73.

Analysts Set New Price Targets

MARA has been the subject of several research reports. Piper Sandler assumed coverage on shares of MARA in a research note on Tuesday. They issued an “overweight” rating and a $34.00 price objective for the company. Compass Point cut MARA from a “buy” rating to a “neutral” rating and increased their price target for the company from $21.00 to $25.00 in a research note on Thursday, November 21st. JPMorgan Chase & Co. upgraded MARA from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $12.00 to $23.00 in a research report on Tuesday, December 10th. Barclays initiated coverage on MARA in a research report on Monday, November 25th. They issued an “equal weight” rating and a $27.00 target price for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of MARA in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.50.

MARA Stock Up 0.2 %

The stock has a 50-day moving average price of $20.92 and a 200-day moving average price of $19.29. The company has a market capitalization of $7.92 billion, a P/E ratio of 31.14 and a beta of 5.63. 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 quarterly earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share (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 firm had revenue of $131.60 million during the quarter, compared to analyst estimates of $140.26 million. During the same quarter last year, the firm posted ($0.05) EPS. The firm’s revenue for the quarter was up 34.4% on a year-over-year basis. On average, research analysts predict that MARA Holdings, Inc. will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling at MARA

In related news, Director Jay P. Leupp sold 6,800 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.90, for a total transaction of $203,320.00. Following the transaction, the director now owns 135,756 shares in the company, valued at $4,059,104.40. The trade was a 4.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the transaction, the chief executive officer now directly owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. This represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,922 shares of company stock valued at $2,651,807. 0.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MARA

Several institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. grew its stake in shares of MARA by 62.5% in the 3rd quarter. Franklin Resources Inc. now owns 31,621 shares of the business services provider’s stock valued at $537,000 after buying an additional 12,157 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in MARA by 4.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 79,650 shares of the business services provider’s stock worth $1,292,000 after acquiring an additional 3,200 shares in the last quarter. Geode Capital Management LLC grew its stake in MARA by 5.6% in the third quarter. Geode Capital Management LLC now owns 7,157,491 shares of the business services provider’s stock valued at $116,115,000 after acquiring an additional 378,542 shares during the period. M&T Bank Corp increased its holdings in shares of MARA by 14.1% during the third quarter. M&T Bank Corp now owns 19,571 shares of the business services provider’s stock valued at $317,000 after acquiring an additional 2,418 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of MARA during the third quarter worth approximately $1,072,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

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.