MARA Holdings (NASDAQ:MARA) Stock Has Consensus Target Price of $19.20

MARA Holdings (NASDAQ:MARA) has been given an average rating of “Hold” by the twelve analysts that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $19.10.

Several analysts recently commented on MARA shares. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $11.00 target price (down from $13.00) on shares of MARA in a report on Monday, September 14th. Cantor Fitzgerald lowered their price target on shares of MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. HC Wainwright began coverage on shares of MARA in a report on Friday, September 11th. They issued a “buy” rating and a $20.00 price target on the stock. Morgan Stanley set a $10.00 price objective on shares of MARA and gave the stock an “underweight” rating in a research report on Friday. Finally, Piper Sandler reduced their price objective on MARA from $16.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, July 17th.

MARA Stock Down 3.5%

MARA stock opened at $9.11 on Friday. MARA has a one year low of $6.66 and a one year high of $23.45. The company has a fifty day moving average price of $11.05 and a two-hundred day moving average price of $11.79. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.15.

MARA (NASDAQ:MARA) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $209.44 million. MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. MARA’s revenue for the quarter was down 26.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.84 earnings per share. Equities analysts anticipate that MARA will post -1.65 earnings per share for the current year.

Insider Transactions at MARA

In related news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $11.22, for a total value of $308,606.10. Following the completion of the sale, the chief executive officer directly owned 4,217,586 shares in the company, valued at $47,321,314.92. The trade was a 0.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Khan sold 16,000 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $9.21, for a total value of $147,360.00. Following the completion of the sale, the chief financial officer owned 377,066 shares of the company’s stock, valued at $3,472,777.86. This trade represents a 4.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 106,891 shares of company stock worth $1,124,731. Company insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. CI Investments Inc. lifted its holdings in MARA by 7.6% during the 1st quarter. CI Investments Inc. now owns 13,520 shares of the business services provider’s stock worth $110,000 after buying an additional 957 shares during the period. Greenleaf Trust increased its stake in shares of MARA by 9.9% in the second quarter. Greenleaf Trust now owns 11,915 shares of the business services provider’s stock valued at $165,000 after buying an additional 1,076 shares during the period. Evexia Wealth LLC raised its position in shares of MARA by 9.2% during the first quarter. Evexia Wealth LLC now owns 12,937 shares of the business services provider’s stock worth $106,000 after acquiring an additional 1,090 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of MARA by 58.2% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 4,009 shares of the business services provider’s stock worth $45,000 after acquiring an additional 1,475 shares during the last quarter. Finally, Sigma Planning Corp raised its position in shares of MARA by 12.5% during the first quarter. Sigma Planning Corp now owns 13,409 shares of the business services provider’s stock worth $109,000 after acquiring an additional 1,485 shares during the last quarter. Institutional investors own 44.53% of the company’s stock.

MARA Company Profile

MARA Holdings, Inc (NASDAQ: MARA), formerly known as Marathon Digital Holdings, is a digital asset technology company focused primarily on mining bitcoin. The company operates specialized data centers containing application-specific integrated circuit (ASIC) computers that process transactions and secure the Bitcoin network in exchange for bitcoin rewards.

In addition to bitcoin mining, MARA develops and operates digital asset computing infrastructure. Its activities include managing energy and data-center resources, deploying mining hardware, and pursuing technologies designed to improve the efficiency and scalability of digital asset mining.