MARA (NASDAQ:MARA) Stock Price Down 3.3% – Here’s What Happened

Shares of MARA Holdings, Inc. (NASDAQ:MARA) dropped 3.3% during trading on Monday . The stock traded as low as $12.57 and last traded at $12.74. Approximately 10,841,118 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 46,133,099 shares. The stock had previously closed at $13.18.

Analyst Upgrades and Downgrades

MARA has been the topic of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of MARA in a research note on Thursday, February 27th. B. Riley boosted their price target on shares of MARA from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Rosenblatt Securities initiated coverage on shares of MARA in a research note on Friday, March 7th. They issued a “buy” rating and a $19.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $28.00 target price on shares of MARA in a report on Thursday, February 27th. Finally, Piper Sandler reduced their target price on shares of MARA from $34.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.80.

MARA Price Performance

The company has a market capitalization of $4.17 billion, a P/E ratio of 15.28 and a beta of 5.95. The firm’s fifty day moving average is $16.31 and its 200 day moving average is $18.17. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00.

MARA (NASDAQ:MARA) last issued its quarterly earnings results on Wednesday, February 26th. The business services provider reported $1.24 EPS for the quarter, beating the consensus estimate of ($0.32) by $1.56. The company had revenue of $214.39 million for the quarter, compared to the consensus estimate of $187.11 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. As a group, analysts predict that MARA Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Activity at MARA

In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $18.01, for a total value of $495,365.05. Following the transaction, the chief executive officer now directly owns 4,100,585 shares in the company, valued at $73,851,535.85. This represents a 0.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.31, for a total transaction of $255,677.00. Following the completion of the sale, the chief financial officer now directly owns 1,773,788 shares of the company’s stock, valued at $27,156,694.28. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,710 shares of company stock worth $1,226,825. Insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On MARA

Several hedge funds have recently modified their holdings of MARA. Charles Schwab Investment Management Inc. lifted its position in MARA by 8.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,656,363 shares of the business services provider’s stock valued at $43,086,000 after acquiring an additional 217,106 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in MARA by 112.4% during the third quarter. Mutual of America Capital Management LLC now owns 203,975 shares of the business services provider’s stock valued at $3,308,000 after acquiring an additional 107,963 shares during the last quarter. Weiss Asset Management LP purchased a new stake in MARA during the third quarter valued at approximately $1,557,000. Intech Investment Management LLC purchased a new stake in MARA during the third quarter valued at approximately $1,107,000. Finally, Public Sector Pension Investment Board lifted its position in MARA by 4.0% during the third quarter. Public Sector Pension Investment Board now owns 624,818 shares of the business services provider’s stock valued at $10,135,000 after acquiring an additional 24,300 shares during the last quarter. Hedge funds and other 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.