MARA (NASDAQ:MARA) Shares Down 2.4% – What’s Next?

MARA Holdings, Inc. (NASDAQ:MARA) dropped 2.4% on Friday . The stock traded as low as $23.11 and last traded at $23.61. Approximately 23,206,234 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 55,202,418 shares. The stock had previously closed at $24.18.

Analyst Upgrades and Downgrades

MARA has been the topic of a number of analyst reports. Macquarie upped their target price on shares of MARA from $22.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday. Compass Point cut shares of MARA from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $21.00 to $25.00 in a research report on Thursday. Needham & Company LLC restated a “hold” rating on shares of MARA in a report on Wednesday, November 13th. Cantor Fitzgerald initiated coverage on shares of MARA in a report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $28.00 target price on shares of MARA in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, MARA currently has an average rating of “Hold” and an average price target of $22.88.

MARA Trading Up 8.2 %

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 company has a market cap of $8.42 billion, a price-to-earnings ratio of 33.00 and a beta of 5.52. The stock has a 50-day simple moving average of $17.83 and a 200 day simple moving average of $18.70.

MARA (NASDAQ:MARA) last released 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). The company had revenue of $131.60 million during the quarter, compared to analyst estimates of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. MARA’s revenue was up 34.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) EPS. As a group, equities research analysts predict that MARA Holdings, Inc. will post -0.72 EPS for the current fiscal year.

Insider Activity

In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $481,337.50. Following the transaction, the chief executive officer now directly owns 4,250,804 shares in the company, valued at approximately $74,389,070. The trade was a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the sale, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,622 shares of company stock valued at $2,399,805. Company 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 made changes to their positions in the stock. Truvestments Capital LLC purchased a new stake in MARA during the 3rd quarter worth about $26,000. Beaird Harris Wealth Management LLC lifted its stake in shares of MARA by 121.1% during the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after purchasing an additional 695 shares in the last quarter. Larson Financial Group LLC boosted its holdings in MARA by 124.2% in the 3rd quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,062 shares during the period. Signaturefd LLC boosted its stake in shares of MARA by 74.8% in the third quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 1,273 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of MARA during the third quarter valued at about $50,000. 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.