MARA (NASDAQ:MARA) Stock Price Up 4.6% – Still a Buy?

MARA Holdings (NASDAQ:MARA) shares rose 4.6% during mid-day trading on Tuesday . The stock traded as high as $12.06 and last traded at $11.83. Approximately 53,264,777 shares traded hands during mid-day trading, an increase of 15% from the average daily volume of 46,220,684 shares. The stock had previously closed at $11.31.

Analyst Ratings Changes

MARA has been the subject of a number of research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 price objective on shares of MARA in a research note on Friday, August 7th. BTIG Research reaffirmed a “buy” rating and issued a $27.00 target price on shares of MARA in a report on Monday, June 1st. Morgan Stanley upped their price objective on MARA from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, August 13th. Citizens Jmp assumed coverage on shares of MARA in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $24.00 target price for the company. Finally, Weiss Ratings raised shares of MARA from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, MARA presently has a consensus rating of “Moderate Buy” and an average price target of $18.78.

MARA Stock Up 4.6%

The firm’s 50 day moving average price is $11.34 and its two-hundred day moving average price is $11.26. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of -1.29 and a beta of 5.32. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.89 and a quick ratio of 0.89.

MARA (NASDAQ:MARA) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($1.77). The company had revenue of $174.88 million for the quarter, compared to analyst estimates of $209.44 million. MARA had a negative return on equity of 26.05% and a negative net margin of 429.71%.MARA’s revenue for the quarter was down 26.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.84 earnings per share. As a group, sell-side analysts forecast that MARA Holdings will post -1.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Zabi Nowaid sold 8,376 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $12.00, for a total value of $100,512.00. Following the sale, the general counsel owned 898,780 shares in the company, valued at $10,785,360. This represents a 0.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas K. Mellinger sold 7,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.00, for a total transaction of $112,000.00. Following the transaction, the director owned 231,618 shares of the company’s stock, valued at $3,705,888. This trade represents a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 109,386 shares of company stock worth $1,332,889. 0.97% of the stock is owned by insiders.

Institutional Investors Weigh In On MARA

Hedge funds have recently modified their holdings of the stock. Ascentis Independent Advisors acquired a new position in MARA in the first quarter valued at $28,000. Bogart Wealth LLC grew its position in shares of MARA by 4,345.1% during the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock worth $33,000 after buying an additional 3,954 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of MARA in the 4th quarter worth approximately $36,000. Hantz Financial Services Inc. boosted its holdings in shares of MARA by 344.8% in the 4th quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock valued at $45,000 after buying an additional 3,893 shares during the period. Finally, CoreCap Advisors LLC lifted its holdings in MARA by 128.0% in the second quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider’s stock worth $51,000 after acquiring an additional 2,050 shares during the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

About MARA

MARA Holdings, Inc is an energy and digital infrastructure company whose core business is Bitcoin mining. Headquartered in Hallandale Beach, Florida, the company operates large-scale computing infrastructure designed to convert energy into high-value compute workloads.