MARA (NASDAQ:MARA) Shares Down 5.4% – Time to Sell?

MARA Holdings (NASDAQ:MARA)’s stock price was down 5.4% on Friday. The company traded as low as $6.45 and last traded at $6.77. 43,003,622 shares traded hands during trading, a decline of 5% from the average session volume of 45,112,105 shares. The stock had previously closed at $7.16.

Analysts Set New Price Targets

A number of research analysts have recently commented on MARA shares. Weiss Ratings cut shares of MARA from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, October 23rd. Morgan Stanley set a $10.00 target price on MARA and gave the company an “underweight” rating in a research report on Friday, October 9th. Piper Sandler restated an “overweight” rating and issued a $11.00 price objective (down from $13.00) on shares of MARA in a report on Tuesday, October 20th. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price target on shares of MARA in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. downgraded MARA from an “overweight” rating to an “underweight” rating and dropped their target price for the company from $13.00 to $11.00 in a report on Monday, September 14th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.78.

MARA Trading Down 5.4%

The company has a 50-day simple moving average of $10.46 and a 200 day simple moving average of $10.81. The company has a market capitalization of $2.62 billion, a P/E ratio of -0.74 and a beta of 5.33. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 0.89.

MARA (NASDAQ:MARA) last released its 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 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%. The firm’s quarterly revenue was down 26.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.84 EPS. Sell-side analysts expect that MARA Holdings will post -1.65 earnings per share for the current year.

Insider Buying and Selling at MARA

In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $11.22, for a total transaction of $308,606.10. Following the sale, the chief executive officer owned 4,217,586 shares of the company’s stock, valued at $47,321,314.92. This represents a 0.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 8,376 shares of MARA stock in a transaction on Friday, August 21st. The shares were sold at an average price of $12.00, for a total value of $100,512.00. Following the completion of the sale, the general counsel directly owned 898,780 shares of the company’s stock, valued at $10,785,360. This trade represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 106,891 shares of company stock valued at $1,124,731. 0.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MARA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in MARA in the third quarter valued at approximately $37,000. Sage Rhino Capital LLC increased its stake in shares of MARA by 14.2% during the 3rd quarter. Sage Rhino Capital LLC now owns 12,965 shares of the business services provider’s stock worth $147,000 after purchasing an additional 1,613 shares during the last quarter. Activest Wealth Management raised its position in shares of MARA by 300.0% in the third quarter. Activest Wealth Management now owns 4,000 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 3,000 shares during the period. Everhart Financial Group Inc. acquired a new stake in MARA during the 3rd quarter worth approximately $152,000. Finally, Moody National Bank Trust Division grew its position in shares of MARA by 19.4% during the 3rd quarter. Moody National Bank Trust Division now owns 159,737 shares of the business services provider’s stock worth $1,810,000 after purchasing an additional 25,962 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

About MARA

MARA Holdings, Inc (NASDAQ: MARA), formerly known as Marathon Digital Holdings, is a digital asset mining and energy infrastructure company. Its primary business is securing the Bitcoin network by operating specialized computing equipment that validates transactions and earns Bitcoin rewards.

The company develops and operates data centers and digital asset computing infrastructure, while also pursuing strategies to access low-cost and surplus energy. MARA has expanded its operations through a combination of owned facilities, hosting arrangements and acquisitions, with activities spanning North America and other international markets.

The company was founded in 2010 as Marathon Patent Group and later shifted its focus toward cryptocurrency mining before adopting the Marathon Digital name.