MARA’s (MARA) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of MARA (NASDAQ:MARA) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $28.00 target price on the business services provider’s stock. HC Wainwright also issued estimates for MARA’s Q4 2024 earnings at ($0.54) EPS and FY2025 earnings at ($1.55) EPS.

A number of other research firms have also recently weighed in on MARA. Macquarie started coverage on shares of MARA in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 target price on the stock. Cantor Fitzgerald initiated coverage on shares of MARA in a research note on Thursday, October 10th. They set an “overweight” rating and a $21.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.57.

MARA Stock Up 1.3 %

MARA opened at $21.07 on Wednesday. The company has a quick ratio of 3.75, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of 26.67 and a beta of 5.52. MARA has a twelve month low of $9.21 and a twelve month high of $34.09. The company’s 50-day moving average price is $17.38 and its two-hundred day moving average price is $18.60.

MARA (NASDAQ:MARA) last released its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share 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 analysts’ expectations of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The firm’s revenue was up 34.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. As a group, equities analysts expect that MARA will post -1.05 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $481,337.50. Following the sale, the chief executive officer now owns 4,250,804 shares of the company’s stock, valued at approximately $74,389,070. This represents a 0.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $292,250.00. Following the sale, the chief financial officer now directly owns 2,077,232 shares in the company, valued at $36,351,560. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,417 shares of company stock valued at $1,524,546. Company insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On MARA

A number of institutional investors have recently made changes to their positions in MARA. Truvestments Capital LLC bought a new position in shares of MARA in the 3rd quarter worth $26,000. Beaird Harris Wealth Management LLC increased its holdings in shares of MARA by 121.1% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after buying an additional 695 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of 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 buying an additional 1,062 shares during the last quarter. Signaturefd LLC increased its holdings in shares of MARA by 74.8% in the 3rd quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock worth $48,000 after buying an additional 1,273 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of MARA in the 3rd quarter worth $50,000. Institutional investors 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.