MARA (NASDAQ:MARA) Trading Up 11.5% on Strong Earnings

MARA Holdings, Inc. (NASDAQ:MARA)’s stock price was up 11.5% during trading on Thursday following a better than expected earnings announcement. The company traded as high as $14.85 and last traded at $13.88. Approximately 36,068,192 shares traded hands during trading, an increase of 4% from the average daily volume of 34,833,117 shares. The stock had previously closed at $12.45.

The business services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of ($0.32) by $1.56. The business had revenue of $214.39 million during the quarter, compared to analysts’ expectations of $187.11 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%.

Analyst Upgrades and Downgrades

MARA has been the subject of several recent analyst reports. Barclays began coverage on shares of MARA in a research report on Monday, November 25th. They set an “equal weight” rating and a $27.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 target price on shares of MARA in a report on Thursday. JPMorgan Chase & Co. raised shares of MARA from an “underweight” rating to a “neutral” rating and raised their price target for the company from $12.00 to $23.00 in a research note on Tuesday, December 10th. 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. Finally, B. Riley lifted their price objective on MARA from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, MARA currently has a consensus rating of “Hold” and an average price target of $25.67.

Insiders Place Their Bets

In other news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $23.50, for a total transaction of $646,367.50. Following the completion of the sale, the chief executive officer now owns 4,128,090 shares of the company’s stock, valued at $97,010,115. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $23.50, for a total transaction of $392,450.00. Following the transaction, the chief financial officer now owns 1,836,129 shares in the company, valued at $43,149,031.50. The trade was a 0.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,215 shares of company stock worth $2,033,766. 0.80% of the stock is owned by corporate insiders.

Institutional Trading of MARA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in MARA in the third quarter valued at approximately $26,000. Beacon Capital Management LLC purchased a new position in MARA during the 4th quarter worth $26,000. Larson Financial Group LLC boosted its holdings in MARA by 124.2% during the third quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider’s stock worth $31,000 after purchasing an additional 1,062 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of MARA by 358.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider’s stock worth $31,000 after buying an additional 1,426 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd grew its holdings in shares of MARA by 79.3% in the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,945 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 860 shares in the last quarter. 44.53% of the stock is owned by institutional investors.

MARA Stock Up 10.3 %

The stock has a 50-day moving average of $17.78 and a 200 day moving average of $18.46. 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 capitalization of $4.92 billion, a PE ratio of 18.31 and a beta of 5.76.

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.