MARA (NASDAQ:MARA) Trading Up 6.7% on Analyst Upgrade

MARA Holdings, Inc. (NASDAQ:MARA) shares were up 6.7% during trading on Tuesday after Macquarie raised their price target on the stock from $22.00 to $29.00. Macquarie currently has an outperform rating on the stock. MARA traded as high as $19.41 and last traded at $19.31. Approximately 33,312,270 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 54,292,930 shares. The stock had previously closed at $18.10.

A number of other research analysts have also recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of MARA in a research note on Wednesday, November 13th. Needham & Company LLC reissued a “hold” rating on shares of MARA in a report on Wednesday, November 13th. JPMorgan Chase & Co. cut their target price on shares of MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. Finally, Cantor Fitzgerald started coverage on shares of MARA in a research note on Thursday, October 10th. They set an “overweight” rating and a $21.00 price target for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.57.

Insider Transactions at MARA

In related news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the sale, the chief financial officer now directly owns 2,103,347 shares in the company, valued at $33,022,547.90. This trade represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of MARA stock in a transaction that occurred 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 sale, the chief executive officer now owns 4,278,309 shares in the company, valued at $67,169,451.30. This trade represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,417 shares of company stock valued at $1,524,546 over the last three months. 0.97% of the stock is currently owned by corporate insiders.

Institutional Trading of MARA

A number of large investors have recently added to or reduced their stakes in MARA. Vanguard Group Inc. increased its stake in shares of MARA by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock worth $540,002,000 after purchasing an additional 441,455 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in MARA by 4.1% during the first quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock worth $505,000 after buying an additional 881 shares during the last quarter. American International Group Inc. raised its stake in MARA by 4.3% in the first quarter. American International Group Inc. now owns 110,489 shares of the business services provider’s stock valued at $2,495,000 after buying an additional 4,593 shares during the period. Natixis acquired a new stake in shares of MARA in the first quarter valued at approximately $177,000. Finally, Northwest Wealth Management LLC bought a new position in shares of MARA during the 1st quarter worth approximately $241,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

MARA Price Performance

The business has a fifty day moving average of $17.38 and a two-hundred day moving average of $18.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 24.44 and a beta of 5.52.

MARA (NASDAQ:MARA) last issued its quarterly earnings data on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.04). The company had revenue of $131.60 million during the quarter, compared to the consensus estimate of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. MARA’s revenue for the quarter was up 34.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) earnings per share. As a group, research analysts predict that MARA Holdings, Inc. will post -0.72 EPS for the current fiscal year.

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.