MARA (NASDAQ:MARA) Trading Up 7.8% – What’s Next?

MARA Holdings, Inc. (NASDAQ:MARA)’s share price shot up 7.8% during mid-day trading on Thursday . The stock traded as high as $27.32 and last traded at $26.92. 87,699,203 shares were traded during trading, an increase of 56% from the average session volume of 56,155,012 shares. The stock had previously closed at $24.97.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of MARA in a report on Wednesday, November 13th. Barclays began coverage on MARA in a research report on Monday. They issued an “equal weight” rating and a $27.00 price objective for the company. Macquarie lifted their target price on MARA from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. JPMorgan Chase & Co. decreased their price target on MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of MARA in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, MARA currently has an average rating of “Hold” and a consensus price target of $23.33.

MARA Trading Up 7.8 %

The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average of $18.65 and a 200-day moving average of $18.88. The stock has a market cap of $8.66 billion, a PE ratio of 34.08 and a beta of 5.52.

MARA (NASDAQ:MARA) last announced its quarterly earnings data 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 negative return on equity of 8.40% and a net margin of 27.48%. The firm had revenue of $131.60 million for the quarter, compared to the consensus estimate of $140.26 million. During the same quarter last year, the business earned ($0.05) earnings per share. The business’s revenue for the quarter was up 34.4% compared to the same quarter last year. On average, analysts anticipate that MARA Holdings, Inc. will post -1.02 EPS for the current year.

Insider Activity at MARA

In other 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 transaction of $431,938.40. Following the completion of the transaction, the chief executive officer now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jay P. Leupp sold 11,200 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $27.06, for a total transaction of $303,072.00. Following the completion of the sale, the director now directly owns 142,556 shares in the company, valued at approximately $3,857,565.36. This trade represents a 7.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,822 shares of company stock valued at $2,702,877 in the last quarter. Insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On MARA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MARA. Dimensional Fund Advisors LP increased its position in shares of MARA by 261.1% during 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 purchasing an additional 2,340,472 shares during the period. Bank of New York Mellon Corp raised its position in shares of MARA by 186.6% in the second 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 purchasing an additional 1,327,969 shares during the period. Principal Financial Group Inc. boosted its holdings in MARA by 4,394.8% during the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock valued at $26,892,000 after acquiring an additional 1,324,625 shares during the period. Public Sector Pension Investment Board bought a new stake in MARA during the 2nd quarter valued at approximately $11,920,000. Finally, Rhumbline Advisers grew its holdings in MARA by 126.5% in the 2nd quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock valued at $15,615,000 after buying an additional 439,309 shares during the last quarter. 44.53% of the stock is owned by institutional investors.

MARA Company Profile

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.